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Trading on valentines day? Track intraday movements and news with me for $SPY 2/14/22!

Updated: Apr 26, 2023


Chart of the dow in February 2023

#TradingonValentinesDay was an amazing day to trade, with BIG intraday moves ranging from the pre-market high of 416.59 to the intraday low of 408.53.


Let's dive deep into why the market is this volatile, as well as an in-depth review of how $SPY's intraday movement looked, and how it'll set up the rest of this week!


Pre-Market + News


Pre-market opened with high-ranging volatility led by key CPI reports!


CPI showed some cooling off, as the economy looks to be recovering. Core CPI came in beating last month's 0.4%, only coming in at 0.3% showing signs of cooling down from inflation.


Last year core CPI came in at 5.7%, while this year our economy came in at 5.6%, easing inflation by .1% year over year! This news made $SPY react bipolar, as it made HUGE moves pre-market going both ways.


Pre-market dropped around 7:30 am CST after the key CPI numbers came out.


As we reached a pre-market low of 411.23 this looked like an overreaction, as traders looked to get back in as they took $SPY to 416.50 with a big move of $5.27 to the upside.


This colossal move-up didn't last long, as the gains were returned as $spy was returned to 411.30 at market open!


HUGE TRADING VOLATILITY!!!


Market Open

Markets opened, and a BIG DROP RIGHT AWAY for $SPY, as the sell-off sent it to 409.54.


I believe the institutional traders dropped it so they can get in the market going long.


As $spy started to recover, the bulls drove the markets a whopping $5.27 move to around 415.05 around 9:15 am.


This move was MASSIVE as traders looked to sell the massive move up.


This was the high of the day, after approximately 15 mins, $spy reversed huge with massive amounts of selling pressure pouring in!


The selling pressure continued for around 30 mins at 10 am, before piercing a new low of 409.34, only .16 cents past the previous low of 409.50.


Coincidence? I don't think so, as $SPY recovered $2 to 411.91.


This high-ranging volatility is a trader's DREAM, as the $5 range was being bought, sold, and reversed HARD!


As traders brought $SPY to 411.50, 2 MASSIVE 5-minute candles killed $SPY with a huge $3 drop to 408.50 making the new and final low of the day!


This happened around 11 AM CST, as the markets FINALLY calmed down a bit.


Markets stopped consolidating around 12, as the markets BOOMED jumping from 410.97 to 413.49 on a massive $3 rally!


This trading day has been AMAZING with the huge reversals happening, but we aren't done yet.


After we hit 413.49, $SPY reversed down to 411.29, as this was traders' last chance to buy back into the market.


As this was the last move down, we consolidated up for the rest of the session.


Around 2:50 pm cst, traders dumped $SPY for the last time going from 413.70 to 412.19 as the market closed.

2/14 market recap

As the session closed, $SPY ended 0.42% down at 412.19.


The intraday movement didn't signal a flat day though, as the movements during the trading day were very fun and volatile, giving traders MANY different opportunities to enter the markets going either direction.


CPI numbers led to a very volatile and action-packed trading session, as new CPI reports indicate that the war on inflation might be working.


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