Crime Scene in Semis, Oil Getting a Bid — Here's What We're Watching This Week
$SPX $MU $AAPL
Quick update on $SPX Levels today and a video about our last addition to TMAD scanner. Watch video here:
Our weekly chat will be tomorrow, Thursday July 9 at 11am ET.
We’re also going to look into some GEX walls on semi-conductors and see how the selloff can proceed further.
SPX Levels
Market pulled back tiny bit because of semi-conductors that looked like a crime scene this week. Also USA attacked Iran again over night and oil is getting a bid as expected last week in our commodities letter. Also XLE is rising again.
All is indicating just more chop ahead most likely and less trend.
Resistance: 7,540 / 7,560 / Long-term resistance 7,600
Support: 7,490 / 7,433 / Long-term support 7,300
Energies are getting a bid and we already see strong move in the pre-market. Not a good sign for SPX.
