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This was a day when the SPX did do something... an almost 13 point move downward! Naturally that did nothing to improve the shape of our dual moving averages. With the 10 day moving average now below the 30 day MA, we're waiting to see the next move. If it's a repeat on November, then we'll be ready to go bullish on any pullback. On the other hand, if this is the start of a downward trend, then we'll be ready to go bearish when the market gets overbought. For now, it's just wait and see. Have a good weekend!
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This was a day when the SPX did do something... an almost 13 point move downward! Naturally that did nothing to improve the shape of our dual moving averages. With the 10 day moving average now below the 30 day MA, we're waiting to see the next move. If it's a repeat on November, then we'll be ready to go bullish on any pullback. On the other hand, if this is the start of a downward trend, then we'll be ready to go bearish when the market gets overbought. For now, it's just wait and see. Have a good weekend!