Pullback proving protracted on S&P500 Hourly
The S&P 500 continued its pullback yesterday. An attempt was made to rally out of the pullback in the early afternoon, but it failed. I entered a long position at that point, but it wasn’t too long before I was stopped out.
Still, the over-all uptrend remains in place, so the current pullback continues to present a long opportunity. However, a change in the slope of the 50 MA and/or a firm close below the wave 2 low at 269.64 (based on SPY) would change that.
Still, the over-all uptrend remains in place, so the current pullback continues to present a long opportunity. However, a change in the slope of the 50 MA and/or a firm close below the wave 2 low at 269.64 (based on SPY) would change that.
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