➤ As per recent weeks equity prices opened with optimism and finished with a whimper. Today was no exception. Price filled the large gap left open on Friday trade but made no further headway.
➤ S&P500 equity index is still dancing around the 400 level and the 200-day moving average. I expect this to continue but only for a few days. Price should break away from this area very soon.
➤ Price could move upwards to fill in the two smaller price gaps just above but I think more likely it may drop. A good sized drop will give me an opportunity to re-enter with shorts. A move higher may mean staying patient for a trade.
➤ There's plenty of action in other asset classes. See above links for USD and NATGAS price action.
➤ Conclusion: Last day of Feb, time flies by so fast when you're having fun.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.