Friday, March 8, 2019

MTU Weekend Ed. - Retrace (3/8/10)

SPX reacted to overhead resistance and is retracing its rebound from the December low (Chart 1).  The 50-week SMA offered some intraday support (Chart 1) but SPX closed below its 50-day SMA (Chart 2).  Time will tell if this is a minor retrace or a reversal (Chart 3).

Sunday, March 3, 2019

MTU Month-End Ed - Resistance (3/1/19)

SPX is at prior resistance with an interesting weekly candle (Chart 1).  Keep an eye on the bigger picture (Chart 2 and Chart 3).