After SPY Bottoming, This Comes

Trader & Market Analyst • Nov 22, 2024 at 8:30 AM EST

Yesterday had rather risk-on than risk-off characteristics, even though we had to deal with an opening flush, as was the case for quite a few days in a row.

S&P 500 was off to a rocky opening yesterday, but we made it both swing and intraday – and the market breadth that I cautioned clients about, did improve as befits such an up day. Yesterday had rather risk-on than risk-off characteristics, even though we had to deal with an opening flush, as was the case for quite a few days in a row.

Precious metals also followed my bullish call of gold reaping the rewards, and oil closing practically on my very near to $70 target given for Thursday,

What I would highlight today? Check out this snapshot from our intraday channel, look at the crypto short-term very extended posture, and finally VIX.

S&P 500 and Nasdaq

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Also Mentions:

SPX VIX BTC.X

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