S&P Retracement, Buying Opportunity?

١٥ ديسمبر ٢٠٢٠

Looks like we were right on the rejection in the S&P. We just were a little to aggressive on the buyback. We noted a strong level of support under the resistance formed by a technical level and the lower bound of the channel pattern. However, we had enough momentum to pierce 3676 (where we thought we'd have more support), and 3658. The S&P finally found support at 3645, which a level marked by relative highs and lows, and we have thus added it as a significant technical level. We did catch some momentum here and are currently stuck between those three levels. It is likely that we will range here for a bit as the asset finds footing. Any lower levels should be considered buying opportunities