Week of October 23
Weekly close below the 200DMA. What's next for markets...
Recap of last week:
We banked again last week. I turned bullish on Sunday afternoon, and we had a huge trend day up Monday morning with late bears squeezed to the tune of 60ish points on SPX. Starting off the week with a massive winner was definitely nice, as it was a very tough and volatile week to trade.
In the latter half of the week, we got to see some trading done under 4300 SPX as predicted which was an opportunity to add to calls. We got a puke in the latter half of the week with SPX closing under the 200D. Many thought Oct 6 was the bottom for 4Q, we are now trading within 20 points of it. Extremely pivotal week upcoming.
Next move for markets?