6/30: Stock Market Commentary, Golden Ticket, Short Selling
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6/30: Stock Market Commentary, Golden Ticket, Short Selling
S&P 500 Commentary, Golden Ticket and more...
Good morning everyone,
For about two weeks now we have been very aggressive in commenting on the $3,800 area and the $3,900 area on the S&P 500.
Simply put, these levels are HUGE!
The S&P 500 broke out above $3,800 and ran straight to the 20-day simple moving average then supply came in and demand faded.
Happening Now
This morning the S&P 500 is trading below $3,800 which is very significant in our opinion and should be worrisome to bulls.
The Watch
It has been a tough environment for longer-term swing traders but, from a short-term perspective, there has been an opportunity.
What we are watching for this morning is once again…THE $3,800 AREA. Or the $380 area on the $SPY.
