$SPX To $5000?
With today’s flush into the close, there could be a path lower if the bulls can’t reclaim some key support levels. Let’s take a look.
With today’s flush into the close, there could be a path lower if the bulls can’t reclaim some key support levels. Let’s take a look.
The refusal of the VXX to go down near the end of the day, even with the SPX rallying, was a great tell that markets would sell off on the close.
Where does a trader go to find opportunities when the market turmoil leads to panic and uncertainty?
The Nasdaq did its best to cling to critical support zones at the 200 SMA on the daily chart, and the 50 SMA on the weekly chart. However, Microsoft was a bit weaker, closing below the 200 SMA on the daily and just barely above the 50 SMA on the weekly. Danielle is not buying yet, but these are the zones to watch.