Good morning STB!
The war wages on.
Good v evil
On to the lie -
Minis off a bit. So the SPX 30m 200ma resistance went down and now it looks like the 60m 200ma may fall as well. The main upper resistance diagonal is being challenged here as well. That’s OK as discussed previously. Earlier than I expected, yes, but necessary for a larger wedge to form moving south. Looks like a the SPX 50dma will be the next target around 5600 closing the gap above if resistance here does not hold. A rising wedge should form giving us an indication of how far this pop could run. Any improvements in the China trade war will cause a pop. Chasing these up trends is ok if you’re ready to pull the trigger. Using them to jump ship at a better price is also ok.
Have a good weekend.
GL and GB!
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