SPY-Short term Support/Resistance
The market had its first trade halt since 2008, and is extremely high (more than 4 times the average),
Trading the market is challenging. Our models have set two checkpoints for the market to make a short term decision:
- 270 – is the short term support for the S&P500 , breaking that support would generate another leg to the downside
- 290 – is the short term resistance, breaking it to the upside would trigger a short term rally to the upside
Remember to trade with rules, not emotions, the market will rebound, make sure you are in the game to benefit from it.