We are at the 38.2 retracement + 20-day MA support (green). The 50-day MA (blue) and the 30-day MA (red) are crossing over. There’s quite a bit of support here as a result. However, there’s a lack of volume for a sustained rally. Then again, there’s a lack of selling pressure too. That’s why we’re hanging out here.
Im trying to figure out when to dump some of my long hedges…. derrrr
Sorta like watching paint dry, no? Maybe the last hour will give us a hint?
It’s worse than paint dry. I’ve been watching idiots on CNBC all day long.
USO and GLD have been good movers. Just had to avoid watching CNBC and the DOW.
SPY is testing out the day of strength from Dec 16 th….low that day was 88.18……