March 8, 2022

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Rally Attempt

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• There was significant buying in stocks in the pre market.
• Selling came in on the news that Biden will announce a ban on Russian oil at 10:45 am ET.
• The chart shows that so far the stock market has managed to stay above the low of the Russian attack news.  This is a positive.
• The chart shows that RSI is diverging.