Learn to trade July 17 S&P 500 daily chart Goldman Sachs
Price has moved between the 200MA (publicly traded) and the 200ema (market maker)
Price has moved between the 200MA (publicly traded) and the 200ema (market maker)
S&P 500 day trading course, we are staying in this very defined consolidation between 8656 and 884. If we get another move up into 884 with a failure and decreasing volume, unless the invisible hand steps in (GS) then we can look for further tests on the lows this week. There is a bit of support and the retracement is quite shallow.
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Click on picture to enlarge. Looks like we have a Head and shoulders pattern forming with support on the 200MA which is where we have the neck line. An Equal move down will be to 800. This is also a psychological support. Any thing under 800 and our next major support is 731.75 which is a complete 127% extension.
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