S&P 500 200 Day Moving Average Holds

Market holds 200 day moving average

The 200 day moving average on the S&P 500 held.

It appears Bulls retreated from most support levels in order to make a powerful stand at the 200 day moving average line.

Market holds 200 day moving average

What a battle it was.

The yellow line marks the 200 day moving average. Notice the CMF shows a massive surge in buying started at 12:30PM and continued right into the close with the CMF breaking positive. I think Bears got blindsided by the massive stand at the 200 day moving average as Bulls seemed absent at higher levels.

In my short biotech play LABD, I got stopped out for a lost. That’s how I know Bears were blindsided because I got blindsided. That’s why we always set stop-loss levels folks: to live to fight another day.

In hindsight, it seems like common-sense that a massive Bull ambush would happen at the 200 day moving average.

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Author: Lance Jepsen

For ethical purposes, I try not to hold any position in any stock I profile on GuerillaStockTrading.com unless specifically stated in the article. Owner of GuerillaStockTrading.com. Seasoned entrepreneur, investor, and writer. I love God, family, country, stock trading, economics, and helping people learn how to trade.

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