DaddySawbucks

ABC correction at or near complete, resting on 200 DMA

Long
SP:SPX   S&P 500 Index
Chart says all. Bounced off 200MA since covid crash. Expect slight lower to open with piercing tail under 200 DMA. Buy weekly calls or ETF at your own risk, GLTA!
Comment: Played fade da gap and made some more off the weak boost mid-day but FGS this does NOT feel real bullish IMO; might be another bull trap and lower again soon.
Back in cash, watch and see.
Comment: Does not look promising, rally failing, looks like it might sell again from the lower high.
Order cancelled: Breaking thru the 200DMA. Bearish. No bounce here.
Comment: Probably teh selling climax, LOL. Not taking that chance!
Comment: This rally carried price back to the previous low... and rejected.

Now it rests at the gap price; this gap will fill, if not in PM today, then AM tomorrow likely IMO.

Would not chase a long here, the trend is still Down.
Appears to enter bear market, many stonks are already >-20%, selling may continue after a rest day.
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