.SPX: Turnaround Tuesday?
Hello everyone! Today i want to share some trading ideas with you!
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Turnaround Tuesday? $S&P 500(.SPX)$
(1) SPX closed way lower than 6624 ystdy, effectively opening the door for lower low.
(2) however, I believe 6540 would stop the bleeding and resume higher.
(3) the current oversold condition would trigger a rocket any moment when a Trump tweet comes out.
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TURNAROUND in progress--after hitting 6525 low, now spiking over 70 points in a sharp rebound. Expect 6700-6720 zone to be tested sometime this week. That would tell whether this new-born bull has legs or not.
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Interestingly, my last blog 1 hour ago, MARKED a regional top of this rebound. Always remember: with VIX elevated, any rise or drop may be short-lived--the best trading strategy is to use "trailing stop market" to protect your profits AND prevent from being caught wrong-sided.
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- Kalyani·13:05Great article, would you like to share it?1Report