Good Morning,
SPX Made a move away from our previous high. MACD crossing fulfilled itself and gave us a drop in yesterdays market. The current low stands at 3207 which is a great area to buy.
We will be looking for a test of the 21 EMA on the hourly at 3237 and for it to continue into 3252 to close out our long trade.
I am still skeptical in whether or not this is just a pullback or a change in trend for the bears however as usual manage your risk and keep your trades tight.
SPX Made a move away from our previous high. MACD crossing fulfilled itself and gave us a drop in yesterdays market. The current low stands at 3207 which is a great area to buy.
We will be looking for a test of the 21 EMA on the hourly at 3237 and for it to continue into 3252 to close out our long trade.
I am still skeptical in whether or not this is just a pullback or a change in trend for the bears however as usual manage your risk and keep your trades tight.