Strong Setup Developing Now

We have had the price pull back on the SP500 I think that this is a great way to get into a trade on the pull back.

Notice how the price is going into the 50 period Moving average.

This is a great place to look for a bounce. If the price holds above that moving average, I will be looking for a buy setup.

I also want you to notice the consolidation for the last week in this area. We have sideways motion and when that happens that is often a great place for a buy because the price is building up and getting ready for a nice bounce.

Now if we break below the 50 then that will probably mean an extended down move for some time.

Thanks,

To your trading success,

Casey Stubbs