SPY-Short term Support/Resistance , AlphaOverBeta Market Outlook
Hello traders,
The market had its first trade halt since 2008, and volatility is extremely high (more than 4 times the average),
Trading the market is challenging. Our models have set two checkpoints for the market to make a short term decision:
Remember to trade with rules, not emotions, the market will rebound, make sure you are in the game to benefit from it.
Trade Smartly,
Alon, AlphaOverBeta
The market had its first trade halt since 2008, and volatility is extremely high (more than 4 times the average),
Trading the market is challenging. Our models have set two checkpoints for the market to make a short term decision:
- 270 - is the short term support for the S&P500, breaking that support would generate another leg to the downside
- 290 - is the short term resistance, breaking it to the upside would trigger a short term rally to the upside
Remember to trade with rules, not emotions, the market will rebound, make sure you are in the game to benefit from it.
Trade Smartly,
Alon, AlphaOverBeta