In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we discuss the S&P 500 at the 200 day moving average.
Recently, we have spoken a lot about the recent bullish sentiment and price action behind the US equities. This sentiment still continues. However, we have run into a very strong level of potential resistance. This level is a 200 day moving average. This is probably the most important indicator used by the big players to determine long-term direction.
We are at such a pivotal stage for this market that we are literally looking to buy above the 200 day moving average price of 2745. Also, we are potentially looking to sell below that same price point if we get the opportunity to do so on smaller timeframes in the form of structural failures.
Overall, keep a strong focus on risk management and don’t be too quick to give this market the benefit of the doubt.
S&P 500 at the 200 Day Moving Average – Full Video Analysis
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