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50 day EMA 1224.81, 100 day EMA 1230.04, and the long term 61.8% fib is around 1230 - plus it was the breakout level in October. So an important area today IMO.
I've taken a new long swing entry near support this morning.
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
The S&P 500 had a bad day with the rest of the stock markets on a lot of bearishiness in the media, who seemed to ignore positive news like the Brazil upgrade, and Italian vote of confidence passing in the upper house, and focused on the negatives instead. Which I think isn't very responsible journalism on their part.
The day seemed rough, but $SPX closed within the daily ATR(200) range, which the -1ATR level was at 1215.36; so it was a normal range day.
My stop loss is below 1180, so I have a bit of downside room. But I think today's low will be important to hold for the very short term trade.
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
