we have come off these highs to visit the 50 day moving average seven times since the recovery started. This will make it the 8th. the easy trade is short to 4340. However, this time things might be a bit worse as the environment with potential fed tightening on the horizon may let us penetrate through the 50 unless the times before. a smaller number of higher quality tech names are pushing highs (AAPL, MSFT), which is also very concerning per my previous QQQ short call here 
Another weird thing is that the high on SPX of 4480ish is about twice the low from the pandemic start. Could we see a 38.2 retrace? sounds outlanding, but seems possible. Lets see how things react when we hit the 50 day.
Another weird thing is that the high on SPX of 4480ish is about twice the low from the pandemic start. Could we see a 38.2 retrace? sounds outlanding, but seems possible. Lets see how things react when we hit the 50 day.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.