Power Plays Update: Thoughts on the Market

Quick Thoughts on the Market

September 14, 2022

By Scott Redler

We had a pretty wild ride yesterday thanks to the hotter-than-anticipated CPI number.

And this morning, we are seeing some back-and-forth action, with some key tech names like Tesla (TSLA) and Power Plays name Apple (AAPL) leading.

There could be near-term upside up to the SPY $396 to $398 area, which I would regard as pretty tough resistance to break through. In fact, some might consider adding short exposure there.

So I don't anticipate adding any new names to Power Plays for the next few days.

This is time for caution, not aggression.

Speaking of Apple, keep a close eye on it. If the active bears are going to take control, they need to push Apple down.

Good luck out there.

-Scott

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