SPX Trying To Recapture The 200dma, While Seasonals About To Go Bullish. Feb 16th Chart and Plan
In yesterdays plan, I indicated I was long and I was looking for ES to run to 4460 and then hopefully base out and this played out nicely with ES spending the day charging up in this critical resistance area. This zone likely determines what the next several weeks look like for two reasons 1) We broke down here Friday, we are now back-testing and 2) The 200dma is also at 4450. Whats next? There is a fairly clear chart pattern building right now, and seasonals also provide support. I will be discussing both today