Today the market stayed above the 200 MA for the second day straight. On the last post, I discussed that if we close above the 200 MA on the daily S&P chart, then this would be very bullish for the markets. Well we did just that, however we need to stay above this line through the end of the week first. The markets have a tendency to have false breakouts. So in order to make sure I stay bullish, I will be waiting to the end of the week and the key jobs report on Friday. If we fall back below the 200 MA then I will start looking for shorting opportunities.
Discussion
No comments for “Key Pivotal Point: 200 MA”
Post a comment