- S&P 500 has closed the day below the crucial 61.8% Fib level.
- But the index is still trading above 20 and 50 DMA. This should keep the bulls interested.
- 50 DMA is at 1082 if this level break the correction can be big.
- The daily chart also has a negative sma cross, 20 DMA is below 50 DMA.
- Today bears had an upper hand but i still feel that both trades are possible from here. clarity should emerge soon.
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