Until we see what happens with the 200 day moving average, the sidelines is the place to be.
We have had a series of Dojis form right over the 200 day moving average. This is telling us that the psychology of traders right now is that of uncertainty.
Intra-day the S&P 500 broke under the 200 day moving average line on Friday but re-took it by market close forming another Doji for the day.
The key pivot level to keep your eye on next week is 110. A close below this level with an additional day of confirmation would send SPY back down to test the 107 level.
In this video, I show you my reasoning for why I give this market a sidelines rating.
You should be in cash right now.
Until we see what happens with the 200 day moving average, the sidelines is the place to be.
We have had a series of Dojis form right over the 200 day moving average. This is telling us that the psychology of traders right now is that of uncertainty.
Intra-day the S&P 500 broke under the 200 day moving average line on Friday but re-took it by market close forming another Doji for the day.
The key pivot level to keep your eye on next week is 110. A close below this level with an additional day of confirmation would send SPY back down to test the 107 level.
In this video, I show you my reasoning for why I give this market a sidelines rating.
You should be in cash right now.
Until we see what happens with the 200 day moving average, the sidelines is the place to be.
We have had a series of Dojis form right over the 200 day moving average. This is telling us that the psychology of traders right now is that of uncertainty.
Intra-day the S&P 500 broke under the 200 day moving average line on Friday but re-took it by market close forming another Doji for the day.
The key pivot level to keep your eye on next week is 110. A close below this level with an additional day of confirmation would send SPY back down to test the 107 level.
In this video, I show you my reasoning for why I give this market a sidelines rating.
Stocks Above I Currently Hold In My Own Trading Account: Long LIFE
Guerilla Trader Quote
“Large beasts of prey in the investment jungle (lions, tigers, leopards, and the like) often eat the smaller beasts such as monkeys. Most of us are market monkeys; we are often victims rather than victors.”
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