CNotes1234

SPX Ranging between the 50/200 avgs

SP:SPX   S&P 500 Index
It's been volatile, but rather boring stuck in this range between your 50 ema/ma and your 200's. On the weekly SPX is holding it's 50EMA(with 50ma not too far down). Right now the daily 50's playing as resistance after the rising wedge break. Volume is moderately low. A lot of back and forth with Trade, Trump tweets in general, and FED rate talk. We'll see how the FOMC play up goes in September and the rate cut speculation. That, along with wish wash trade talks, should offer some nice volatile plays. Again, SPY/SPX stuck in this range between averages on daily. The smaller rectangle within larger is for an expected downside gap-fill next week. Am long term bearish biased, but want to see how things play out ultimately with the November elections to really define the turn time.
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