Will SPX Bottom Hold?

By Monica Kingsley of MonicaKingsley.co

Trader & Market Analyst • Feb 26, 2025 at 10:40 AM EST

S&P 500 took another dive after the opening bell, fast and driven by underwhelming CB consumer confidence.

S&P 500 took another dive after the opening bell, fast and driven by underwhelming CB consumer confidence adding to stagflationary whiff of Friday‘s data fears – duly so ahead of GDP and unemployment claims tomorrow. NVDA earnings are the key today – all laid out in Sunday‘s extensive article – and the bullish and bearish camps are quite evenly split.

Intraday opportunities were served on both short and long side yesterday in our channel – great day for intraday momentum followers. And this is all happening while the yen carry trade covered extensively in Saturday‘s video, isn‘t still biting at 149 USDJPY…

Growth worries are one thing, but the intraday turn in S&P 500 breadth is what matters – I laid out ideal open trade management, NVDA earnings expectations and Bitcoin woes in today‘s punchy video. If in doubt, look at the SMCI relief rally (short covering) to understand just how much S&P 500 and Nasdaq had been beaten down already. Crypto bottom isn‘t though in.

S&P 500 and Nasdaq

S&P 500 and Nasdaq

More By This Author:

Selling Every Rip Or What
I Told You Not to Fear SPY Reversal
What Fear and Greed Say About Stocks Now

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Disclaimer: All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.

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