Got frisky and
sold off AXYS (
talked about yesterday here) at 40.xx, for a 10%+ish gain in 2 days. I think we will re-test the S&P 741 support today. Will it hold, will it break who knows?? Russian roulette .
Just to keep things in perspective here are the major support/resistances of the S&P in this bear market:
- 660: the low of the year,
- 741: 20 day moving average (right where we are now)
- 800: 50 day moving average
Well we also have a 1000+ number as the 200 day moving average for the S&P, but right now this is not even worth talking about.Disclaimer: 100% cash, no positions in trading account
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