Thanks, Steve. I am heavily skewed bullish and was getting
concerned with the drop. The wedge gives me something to focus on
that is more constructive.
remember even supposing the SPX gets that move up to the 200 MA
and an overshoot, this is late in the 5th wave, not a lot of blood
in turnip and one can hedge if they have longs they do not wish to
exit
otherwise the market hasn't broken any major symmetry up moves
at this point
very short term intra day some resistance now around the 2962 -
65 zone on SPX cash
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
SPX 15 Minute View
Posted by steve on 21st of May 2020 at 12:39 pm
$SPX - Chart Link
Thanks, Steve. I am heavily
Posted by mdgfain on 21st of May 2020 at 01:06 pm
Thanks, Steve. I am heavily skewed bullish and was getting concerned with the drop. The wedge gives me something to focus on that is more constructive.
remember even supposing the SPX
Posted by matt on 21st of May 2020 at 01:13 pm
remember even supposing the SPX gets that move up to the 200 MA and an overshoot, this is late in the 5th wave, not a lot of blood in turnip and one can hedge if they have longs they do not wish to exit
otherwise the market hasn't broken any major symmetry up moves at this point
very short term intra day some resistance now around the 2962 - 65 zone on SPX cash