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S&P 500 (SPY) ETF AND QQQ (Nasdaq-100) ETF Daily Technical Analysis on Wednesday, April 12th, 2023

S&P 500 (SPY) ETF AND QQQ (Nasdaq-100) ETF Daily Technical Analysis on Wednesday, April 12th, 2023.

 

S&P 500 (SPY) ETF.

Today market reaction is more volatile for high-impact news such as CPI  and FOMC Meeting Minutes. Yesterday we saw the market react very slowly to today’s news. This news is essential for market movement . Market sentiment will change very fast when the news is released. So, be careful about if you want to trade when news releases. If CPI y/y date is more than 5.4, then spy reacts downtrend and shows its downtrend momentum. If we trade entry today, we can sell entry when the market opens. Our entry-level may be sold entry zone 407.26 to 406.02. stop loss level 408.42 and take profit zone 404.31 to 402.93.

 

QQQ (Nasdaq-100) ETF.

If we want to sell entry at qqq, our zone may be 407.26 to 406.02, stop loss level 408.42 and take profit zone may be 404.31 to 402.93.

 

 

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