It’s been a very long time since I posted on SnP 500, infact almost a month, been once again busy with business, as my flower season was on full swing! Take a look at the chart below;
- Well we did touch and bounced back from the 200 periods MA.
- We have now on our hands a bearish crossover (after a long time!) of the 20 and the 50 periods MA’s.
- 1105/1045 is the range now!
If you are a shoot n scoot typo trader then one can buy the supports and sell the resistances with a tight stop. The bulls need to reclaim 1100/1105 (white dashed line) zone to be in charge…till then it’s a ping pong game!
For the rest it’s prudent to wait till this range breaks and with all the talk about the PIGS and STUPID (these are the acronyms of countries going kaput with their debt!) subsides!
No comments:
Post a Comment