Premarket analysis, Monday
Premarket analysis, Monday : good morning everybody, hope you enjoyed your weekends. SPY dealer delta’s turned positive Friday early afternoon, the market continued to fade higher. if the delta is continue to grow positive, then the market will continue to retract. I’m not talking about Mark I’m talking consolidation as the markets ripped higher in November by 10%. CRYPTO & GOLD at 2 yr highs as the dollar firms up a little. Hang Seng Big30 down another 1%, as some Chinese stocks hit a 5 year low. J Powell says no rate cuts scheduled, 📅 however, the stock market 📈 believes the first rate cuts of 2024 will happen in June. I say this everyday, make sure you watch the U.S. dollar & the yield curves (2yr, 10yr, 30 yr) as yields go up the market should pull back. If you see a drop in the dollar and or yield curves, the market should rise higher. We saw this towards the middle of last week when the dollar and yield curves drop significantly on Wednesday and Thursday. Levels of the spy, that I am paying specific attention to 452, 454, 456, 458, 460. Make sure you use the flow and algorithms room today to gauge market direction. And of course to follow the GEX levels, which are the 0DTE SPY options levels. The RED will act as a magnet, whereas the GREEN will act to repel. GL TO ALL TODAY.
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