Which Support Level Am I Watching In The S&P?
The 15 day moving average of lows has been acting as very good support in the past for the S&P500 Cash(SPX). If the market does pullback, I will be watching this moving average closely. This average may be able to give us clues as to where the S&P is headed based on how the market handles this average the next time it is tested.
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2 comments:
Today the S&P parked it right on the 20dma. The previous 2 times this happened, we had decent up days follow.
Hi Kevin
Took real notice of your charting on SPX and long QID...would be interested in what you look for as indication of moves at this point since the index is sitting right on the 50dma...what kind of move up indicates the play is over or what your you expect for next support down?
Your insight is invaluable...thank you.
K
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