VKS Scan Results 2/8/24
Another new ATH
Good Morning traders
SPY 0.00%↑ went nuts yesterday and hit another new ATH and we are just a whisker away from $500 which is just insane to me.
Any trades placed up here should be done so with some solid risk management. Only 48% of the S&P constituents are above their 50 Day Moving Average(chart below). Pile on Layoffs and the economy starting to stutter around news and we have the makings of a pullback at some point.
Thankfully we have the squeeze scanner to weed out some of the less powerful names. Below is today’s list and analysis.
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