Weekly Raid #22
Friday Morning Post
Happy Friday Traders
Hopefully by this time during the week you are green and looking forward to your weekend. News yesterday was exciting but we ultimately ended up selling off on the day.
I am watching 444.30 on the SPY for a potential level of support as volume continues to taper off.
News of the day
Another interesting news day. We have PPI come out this morning a little hotter than expected .3% vs .2%, which contradicts the inflation number we got yesterday. This may be a surprise to the folks at the FED, but this is not a shock to anyone what actually has to buy things in a store. Prices are still higher, and many are still rising.
In addition we have UoM sentiment at 10am which could be a real market mover if its a big miss or beat. Fridays are usually slow for me so I only plan on watching today.
On the Macro front I am watching the Bond rates slowly edge up towards the highs. I think this is going to have a march larger impact on the economy then anyone is still willing to talk about.
The only ticker I am watching today is AAPL. We are going to open lower and we still have some solid room below us to find support. In fact the next area I am looking at is the mid 160’s on it.
Finally don’t forget if you are green on the week to take some profits and sock it into something longer term that pays out a solid Divy.
Sorry for the shorter and late message this morning. Had some personal meetings I had to attend to.
As always trade well and Good Luck