Both SPX and NASDAQ closed the day/week below their MA200 support, now turned resistance.
Market looks a bit oversold after last week’s weakness. Could see a bounce from here.
Will consider that the trend is to the downside until we break and close again above MA200.
Market looks a bit oversold after last week’s weakness. Could see a bounce from here.
Will consider that the trend is to the downside until we break and close again above MA200.
Comment:
MA200 has been cleared. Market still going strong. Now heading towards glass ceiling at 2,820. A break of that puts us in closer view of the historical 2,940. Volatility is at support levels. Brace.
