On a very volatile day the SPY reversed all the morning loses, filling up the intraday gap creating a nice hammer on the daily chart, closing below the 100 day moving average. We have resistance at 115.20 and support levels around 111.75 - 112
When I started trading back in 1998, fundamentals were important as well as P/E ratios, when making my trading decisions, they still are for long term investments, but after reading countless books about stock trading, investing, technical analysis and subscribing to every known stock trading site there is around and by trial and error, I evolved into a technical trader.
I started this blog to share my opinions on trading the SP-500
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