08.07.24 - Little Bird Trading's Market Weather Report

For traders and investors I Using AI to algorithmically map the flyways I Stocks, bonds, commodities, currencies and crypto I LittleBirdTrading.substack.com/subscribe I x.com/LtlBirdTrading

We shared the following $SPY chart on Twitter earlier (link) as an update to yesterday’s Market Weather Report (link).

“We wrote yesterday someone is bag holding after buying Friday's dip. Bulls need to chew through this supply before price can go after the higher gap”

Here’s an updated $SPY chart. See what happened at 11:30 when buyers couldn’t sustain momentum into Friday’s close price? Today’s $SPY close coincides with what we wrote on Friday (link) and still applies.

Both $SPY and $QQQ found support at their April and May highs, but sit on a ledge going into next week.

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*Not investment advice. You are responsible for your risk management.

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Sector ETF Weather Report

Materials: Headwind
Communication Services: Roost
Energy: Roost
Financials: Roost
Industrials: Roost
Technology: Headwind
Consumer Staples: Tailwind
Real Estate: Roost
Utilities: Tailwind
Health Care: Roost
Consumer Discretionary: Headwind

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*Weather Reports were developed with AI and are algorithmically generated. Not investment advice.

Little Bird Trading’s Market Weather Report

SPY, QQQ, DIA, IWM, IBIT, UUP, TLT, NVDA, META, AAPL, AMZN, NFXL, GOOGL, MSFT, CRWD, TSLA, AVGO, JPM, XOM, WMT
And 100+ other US listed stocks, bonds, commodities, currencies, and crypto
FREE example Market Weather Report:

Subscribe now