BY LICIA LESLIE
January 05, 2024
Hi Shoppers,
I have $470 as a support, now new resistance, in SPDR S&P 500 ETF (Ticker: SPY) which has definitively closed below yesterday:
SPY looks clear to trade down to $459.50.
Shopping for puts:
I like the Jan19 467/457 put spread for around $2.50.
Use a close above that $470 level for your stop loss.
Trade Review
You had to be quick to eke out a small win in Walmart (Ticker: WMT) and yesterday it has closed below the 50 day moving average, you should be out of your calls.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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