It took a while, but when the big short covering spike around that 1200 SPX level didn't materialize, we instead have seen the market trade back down. I would think that the 1190-1192 SPX area should provide pretty good support and I do think that some backing off here just sets up a better shot at attacking that resistance in the coming days.
I'm trading around a bit intraday today mostly working with the ETFs still. Having covered my shorts I've turned long the SPX looking for support to materialize here soon around the 119.60 SPY level. Just trying to nip small profits intraday while I continue to search for and add to individual stock longs.
I'm trading around a bit intraday today mostly working with the ETFs still. Having covered my shorts I've turned long the SPX looking for support to materialize here soon around the 119.60 SPY level. Just trying to nip small profits intraday while I continue to search for and add to individual stock longs.
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