2 hammers; MAs hold
Summary
Dan Passarelli reviews a quiet week in markets, noting that NVIDIA’s modest earnings beat failed to trigger a sell-off. He analyzes SPY’s technicals, highlighting a successful break above the 21-day moving average and recent hammer patterns that suggest potential upside follow-through. With minimal economic news and the upcoming Thanksgiving holiday, Passarelli expects lower trading volume and liquidity, advising traders to rely more heavily on technical analysis for the coming days.
Topics discussed
Weekly market overview and lack of economic news
NVIDIA earnings results and market reaction
SPY analysis and 21-day moving average context
Technical patterns: false signals and hammer candles
Outlook for next week and Thanksgiving holiday
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