All major indices have just made a lower high and are now sitting very close to the previous lows.
If they are able to print a lower low, this might be a good opportunity to try a trade on the short side. I am watching the following levels:
S&P 500 - 878
Russell 2000 - 470
Nasdaq 100 - 1339
Any break below those levels could be a good entry point.
I would place a stop above the previous higher high and size my position accordingly.
May 3rd, 2024: SP-500 Chart Update
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2:05 pm EST: The SP-500 gapped up from 5065 to 5122, quickly hit 5139
(day’s high), dropped to 5101 (day’s low), then rose steadily to 5130… Key
Technica...
2 hours ago