Monday, September 12th, 2016

SPX Market analysis video

Here is whats happening in the stock market. Market is pulling back after major run ups in the past 2 weeks. Conditions overbought and its working its way down to neutral  conditions. Its an orderly pull back without the nastiness and anger markets have shown last month. These conditions are great for dip buying and getting long on some of the stocks. If SPX holds above 1080 levels we may see some bounce. You have to remember that $SPX did retrace after hitting 0.62 on the Fibonacci retracement and is now  trading below its 50 day moving average, but above its 21 day and 200 days.  Here is a quick video:

[FLOWPLAYER=http://indexoptionstrading.alliancemtg.com/wp-content/uploads/2009/11/022310.mp4,540,333]

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