Market works like a chess game.
Each move and level has a different influence.
s&p broke over the 10 sma so now the support is around 3805 the 10 sma.
But that will not hold eventually because there are 2 other strong pieces to the game.
3850 resistance level and the 50 sma.
Conversation
Replying to
I shorted at the 200sma @ 3830... is the 200sma not a good signaling tool?
1
I already took a 35% profit from the short as it was an options position, but just wondering for future use of the 200sma as a tool. Thanks.
2
1
Show replies