Here is a fun fact for you–This pullback marks the first time in all of 2013 where the S&P 500 Index is going to close out two consecutive weeks below its 20-day moving average.
At the same time, we know prematurely turning aggressively bearish without keeping an open has been a devastating strategy in 2013, as well. To be sure, there are quite a few intriguing long and short setups developing as we head into next week.
I will cover those actionable trading ideas and much, much more–including full analysis and education material–in my Weekly Strategy Session set to be published on Sunday.
Have a great weekend, and I will see you there.
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I’d make the argument we’re going back up. S&P 500 dipped below but closed above 50 day average on Thursday and hammer on weekly chart looks like we will progress higher in steady upward channel. Daily stochastics curling up too.
This map isn’t right? 😉
😉