The S&P 500 is now at key trend support levels. These levels need to hold and we need to see a bounce on the SPX index for our short entry zone to come into play at the end of the month.
If the SPX 500 continues to fall then the possibility of a long entry will come into play before the end of the year.
Today is a good lesson in watching how an Index reacts to both a short term and medium term trend and how this reaction can impact our forecast.
Remember “The trend is your friend” – or to be more accurate “Understanding the trend is your friend”.
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