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Supercharge Your Portfolio and Eliminate Emotions from Your Trading

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Bears dominated last week with all three major indices closing a very RED week. We've also noticed a high downside volume spike, in fact, the highest spike since May 2022.


$SPY chart below


The bottom line is that if the $SPY breaks the 420.00 key support level it may start the avalanche down to 400.00 and event into the 390.00 area.


BUT - not so fast!


The daily chart of the $SPY is just testing the 200 sma area. The last time it was trading in this area was on October 4th. So... if we hold this spot - we may continue back to 428.00 at least.


Let's face it, it is a difficult environment to trade.


So here is what can impact this week's trading:


Earnings:


Monday, October 23 - Packaging Corporation of America and Brown & Brown


Tuesday, October 24 - Microsoft, Alphabet, Visa , Coca-Cola, Texas Instruments, and General Electric.


Wednesday, October 25 - Meta Platforms, T-Mobile US Thermo Fisher Scientific, Boeing, and General Dynamics.


Earnings spotlight: Thursday, October 26 - Amazon.com, Mastercard, Merck & Co., Intel, Altria, Chipotle Mexican Grill, Northrop Grumman, and United Parcel Service.


Earnings spotlight: Friday, October 27 - Exxon Mobil ), Chevron, AbbVie, and Charter Communications.



The European Central Bank will announce its interest rate decision on October 26. The ECB is expected to hold rates steady after firing off 450 points of rate hikes since July 2022.


Federal Reserve members will be in a blackout period ahead of the next FOMC meeting in November, but the "higher for how much longer" guessing game will go on...


The attention may shift back to stocks and earnings vs. the wars...





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