I trade almost exclusively with the 20ma as a guide, all time
frames. If it's extended away, i look long. SPY Daily is flattish,
and price extended away from the 20, the rising weekly 20 says buy,
curling down monthly says short. Yikes! lol. The trendline backtest
is interesting, pivot support at 393.50 and price is above
the 200ma on all time frames as well. I could see a rally to 405ish
and then re-evaluate, resistance and the declining daily 20ma would
be there by then. Interesting couple months ahead. A rally to
4300 would be awesome.
SPX weekly
Posted by matt on 26th of Feb 2023 at 01:20 pm
$SPX - Chart Link- tested the downtrend line - will it hold this time?
I trade almost exclusively with
Posted by buddha on 26th of Feb 2023 at 05:27 pm
I trade almost exclusively with the 20ma as a guide, all time frames. If it's extended away, i look long. SPY Daily is flattish, and price extended away from the 20, the rising weekly 20 says buy, curling down monthly says short. Yikes! lol. The trendline backtest is interesting, pivot support at 393.50 and price is above the 200ma on all time frames as well. I could see a rally to 405ish and then re-evaluate, resistance and the declining daily 20ma would be there by then. Interesting couple months ahead. A rally to 4300 would be awesome.
Might be the biggest test
Posted by kevindeng0727 on 26th of Feb 2023 at 02:07 pm
Might be the biggest test this year haha. If fake breakout, price could accelerate lower to retest last year's levels.