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S&P 500 Index

$SPY $SPX 30min 35EMA is still resistance here

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SPY SPX 30min 35EMA is still resistance here

All of last week the 35 EMA was a clear resistance and today on the pipe we did see a push back there. Our next support level is at the four hour 200 moving average and the top of the inflation cap from last month where we saw the gap up right before PPI and CPI. About the 35 EMA we do have the 50 day moving average in the one hour 200 moving average, however the momentum there is completely flat so if we get to that point I would say definitely stay neutral
SPYder_QQQueen_Trading
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SPYder_QQQueen_Trading
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Disclaimer

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.