The End of a Tunnel?
NVDA's earnings took SPX into a collapse yesterday, after failing once again to break that 4190 resistance, only for it to spiral down to 4140s.
Now SPX is on an upwards support line, which is meeting with the 4190 resistance line, the result could be one of 3, with the third being the least possible.
This is a literally an all ways kind of trading day, i'd be careful with my positions, the smaller the better, with a tight stop loss, and just follow the trend.
Now SPX is on an upwards support line, which is meeting with the 4190 resistance line, the result could be one of 3, with the third being the least possible.
- Touch the 4190 then drop back, as the market awaits the CPI results tomorrow
- Break the 4190 and head up to 4250, and then turn back to 4190 as a new support line
- Continue a sideway movement, with an occasional breakthrough on opening hours, while the market waits for tomorrow's figures.
This is a literally an all ways kind of trading day, i'd be careful with my positions, the smaller the better, with a tight stop loss, and just follow the trend.
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