Dr_Roboto

S&P rally looks to be over for now based on 20 day MA

Long
Dr_Roboto Mis à jour   
AMEX:IVV   iShares Core S&P 500 ETF
If you look back over this long correction since the beginning of the year, every time the price closed with a red candle below the lower bound of the 20 day moving average the price continued to move lower. I don't see why this time is any different.

I would expect support at the $380 and maybe down to the $375 level. That would bring the S&P right around the mid line of the channel. After that, don't know.
Commentaire:
Price failed to recapture 20 day and is high likely going to continue its downward trend next week.
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