If this month closes at or below this level (currently @1851), this will be one ugly month where 20 months of bull rally where erased in a few trading days!
It sure doesn't look good at the moment but notice how SPX has rebounded from the lower Bollinger Band on a monthly chart in the first leg down, all the way up to MA20 on a monthly time frame.
Time will tell, one thing is sure though and this will be interesting to follow and trade. Be patient with the entries, remember to use stop/loss orders!
It sure doesn't look good at the moment but notice how SPX has rebounded from the lower Bollinger Band on a monthly chart in the first leg down, all the way up to MA20 on a monthly time frame.
Time will tell, one thing is sure though and this will be interesting to follow and trade. Be patient with the entries, remember to use stop/loss orders!