during last week’s trading, the stock market showed a fast pullback.
Although the speed of the retracement took us by surprise, it was actually a healthy movement for the future of the bull market.
This article review the potential for the SPX to recover in the short-term.
SPX fell towards the 50 days moving average. The 50 MA acted as a strong support and it managed to halt its downside run.
Is everything back to normal? Is the uptrend alive and kicking?
Well, now there is the chance for price action to go further and confirm a new high before the market might finally see a new great correction again.
Elections are now around the corner. Uncertainty will be the king in the next few weeks.
Market was waiting for news from Apple products. Also Tuesday and Wednesday central bank officials gathered for their policy meeting.
Many items are on the agenda, but the mystery of where rates are headed has disappeared.
We are waiting for GDP, unemployment and inflation quarterly updates. Even if the unemployment rate has moved down dramatically and the Fed could talk with more confidence, they have to make it clear that we’re not out of the crisis.
For options traders, there are a couple of aspects that deserve consideration.
Thinking about options but not sure yet? There are a couple of ways to move forward before committing to the course or educational signal service. Here is how you can stay in touch:
If you are ready to move forward, then you can choose from:
Marco Doni – ecs.OPTIONS expert and CNBC contributor
The articles are not intended to give any advice on how to invest money, they are just for educational purposes.