Mid-Week SPX Check, Another Wait & See Moment!

٢٠ أغسطس

TLDR...or TLDW ;)

If SPX holds above the 20 EMA and reclaims that short-term uptrend, this could have been just be another orderly pullback in a rising market.

If it crosses back under the 20 EMA and closes below, I’d watch for a move toward the 50 SMA (about 6,255).

My stocks, the indices (Dow, Nasdaq, SPX), were met with buyers midday, and even if we roll over, that is expected.

My hourly charts on my trading list do show potential setups for my retest strategy (similar to how you'd trade a pullback on a run up), and I'd like to see the market follow through with weakness as a whole.

So we wait.

Cheers,
Emanuela

٢١ أغسطس

تم فتح الصفقة

Buyers are not relenting this morning, stepping in each time the price tries to go down. But they are not rushing in either. Both indices and my stocks (my trading list) are flat, signaling indecision.

BTW, the video above is for SPX not UPST, it's marked incorrectly.

٢٤ أغسطس

أغلقت الصفقة: تم الوصول للهدف

Friday's momentum could be the start of another leg up, closing this for now. Cheers!