The SP500 Index fell during the trading session on Monday, as it looks like the 200-Day EMA could come into the picture and will possibly offer resistance.
Open a demo account to test your knowledge or take advantage of low minimum deposits to try your strategies in a real account. Don't wait to take advantage of today's volatility!One of the things that I think you should be paying attention to is the fact that we are between the 200-Day EMA, and the 50-Day EMA.
If we break to the downside, if we drop below the 3900 level, it’s likely that the market could drop down to the 3700 level. After that, I would anticipate that the S&P 500 could go looking to the 3600 level. On the other hand, if we turn around break above the 200-Day EMA, then it’s possible that we could take off to the upside, challenging the 4100 level, and then possibly the 4200 level.
There is the possibility that this comes into the picture if we get the so-called “Santa Claus rally.”this week, so therefore I think that you need to look at this more or less through the prism of risk appetite, but that PCE number coming out on Thursday will have people freaking out if it comes into hot.
Position sizing will be crucial, because with the erratic behavior that we have seen, you could get hurt pretty quick.
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