SP500 Turn Around Tuesday...
After quite a bit of fear and abrupt selling, we're now seeing a turnaround in the SP500 on a Tuesday :)
Holding the 200MA is better than not holding it. This may be the initial bounce after an oversold condition and so i would anticipate the volatility to continue in the coming days. Another re-test of the 200MA is likely (i feel that it is just something markets tend to do) and further data collection is needed before a bigger direction can be determined.
Note: YTD SP500 is still in the positive
Holding the 200MA is better than not holding it. This may be the initial bounce after an oversold condition and so i would anticipate the volatility to continue in the coming days. Another re-test of the 200MA is likely (i feel that it is just something markets tend to do) and further data collection is needed before a bigger direction can be determined.
Note: YTD SP500 is still in the positive
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