$SPY TOP 20 UPDATE
Added 2023-05-03 20:17:26 +0000 UTCVery little to report since the main update over the weekend, struggling today after the Fed decided to raise rates by 0.25% again....I personally did not think it was necessary, as I would be more concerned with the pressure the regional banks are under.
My concern here is that the Fed may be worried that the last thing they need right now is for inflation to go even slightly up or stay high, they want to continue seeing this coming down, they may be able to see more data than we can, so another rate hike was necessary.
So far the market has declined on the news by 0.7% and this is about appropriate for this announcement.
Still rejected under the top blue line and the second blue line now but being held by the 200 Day MA (in yellow), losing this MA may see some downside.
