😱Massive SHORT SQUEEZE? Stock Market Morning Briefing🚀

2 stocks have short squeeze potential....

Sir Chartist

Jan 18, 2023

∙ Paid

Goodmorning Traders and Investors,

The S&P 500 continues to trade above the 200-day moving average but, a volatile pre-market session is happening NOW!

The S&P 500 futures were up 20 points before plummeting to the downside and then rallying back up it appears.

See👇

The News That Is Causing This Volatile Market Pre Session
👉US PPI Final Demand (M/M) Dec: -0.5% (est -0.1%; prevR 0.2%)
👉US PPI Ex Food And Energy (M/M) Dec: 0.1% (est 0.1%; prevR 0.2%)
👉 US PPI Final Demand (Y/Y) Dec: 6.2% (est 6.8%; prevR 7.3%)
👉US PPI Ex Food And Energy (Y/Y) Dec: 5.5% (est 5.6%; prev 6.2%)
👉US Retail Sales Advance (M/M) Dec: -1.1% (est -0.9%; prevR -1.0%)
👉US Retail Sales Ex Auto Dec: -1.1% (est -0.5%; prevR -0.6%)
👉US Retail Sales Ex Auto And Gas Dec: -0.7% (est 0.0%; prevR -0.5%)
👉US Retail Sales Control Group (M/M) Dec: -0.7% (est -0.3%; prev -0.2%)

People Lie, Charts Don’t!

The past 24 hours the SPY 0.00%↑ has been trading between $397 and $399.

$397 being support.
$399 being resistance.

As traders, we want to trade up or down movements and not trade sideways action. This means, over $399 the line of least resistance is the upside and under $397 the line of least resistance is to the downside.

Trading between the range (397-399) lowers our probabilities of the trade working as we are trading chop. We want to trade above $399 or below $397 if trading $SPY.