Overbought but not done correcting
The S&P 500 is having a tough time getting a bid. We go almost a whole year with no upside and then we get sold off.
These levels look pretty solid but we continue to look for some downside. If today is any indication, we gapped up and held on tight into the close.
It is worth noting the S&P 500 is oversold at these levels, so trading may become little tighter in coming days as more buyers and sellers move into the market
We wrote about SPY, CL1!, and TLT in our market snapshot!
Cheers,
The Enhancing Capital Team
These levels look pretty solid but we continue to look for some downside. If today is any indication, we gapped up and held on tight into the close.
It is worth noting the S&P 500 is oversold at these levels, so trading may become little tighter in coming days as more buyers and sellers move into the market
We wrote about SPY, CL1!, and TLT in our market snapshot!
Cheers,
The Enhancing Capital Team
Disclaimer
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.