The S&P 500, and the overall market is at a key decision point. We should know a major direction within a few days.
Check out my latest analysis in this week’s video.
In my Live Trading Room, we caught a really nice short on SPY and are still in it. To see the trade setup and details, Click Here to watch a short video slip from the Live Trading Room.
Take care and trade safe through these “interesting” times,
Dean
Does the S&p need do CLOSE below the 200 Sma to consider this a proper bear market / down trend
Or
Will a break of the 200sma intraday be enough to come to the same conclusion ?
Dean, if the S&P500 breaks below the 200SMA what levels below this are you targeting before support kicks in (are you thinking that a 20% + fall is highly probable)? Thank you
John,
I’m looking at fib retracements, on the weekly chart, of $2116 to $1640 on the S&P 500 if and when the support level is broken. Hard to believe, but that is what the reality of price shows.