September 27, 2022

By Nigam Arora & Dr. Natasha Arora

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

Double Bottom?

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:

• Investors have found several reasons coming together today to buy stocks.  These include a potential double bottom, RSI, yields pulling back, no new large currency moves, and a statement by Chicago Fed Charles Evans.
• The chart shows a potential double bottom is forming.  A double bottom is often a buy signal.  Please note the “?” next to the double bottom on the chart.