Day Trading – The Bullz And Bearz
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SPX Retracement Back To Support Break?
May 6th, 2010
We’ve been pretty spot on recently with the indexes – and as such our members have continued to enjoy lucrative profits from the turn and volatility of the markets. Our May options which expire in less than 15 days are looking great!
Given that the indexes have gone through a pretty good three day selling spree, the next technical step would be a retracement back to the neckline shown below. From there it will be up to the bulls to keep the market moving higher.
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| NASDAQ | 2904.08 | ||||
| S&P 500 | 1347.05 | ||||
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| SDS | 16.70 | ||||
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| CMD | 52.00 | ||||
| XLB | 37.63 | ||||
| UDN | 27.48 | ||||
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