SPX Looking For Support–What To Watch

Posted by Joe Duffy | Aug 28, 2023 | Joe Duffy's Trading Advantage | 0 |

Certainly Monday action did nothing to dispel the weekend commentary. While it may not feel like it, because last Thursday was such a bloodbath, we are now 7 days removed from the price lows in the SPX.

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As long as those lows hold on a closing basis then I expect higher prices. We are not out of the woods yet, but if it can continue to do some work down here then I think SPX is going up. Not aggressively long here in terms of number of positions, have ample reserves to add, but definitely not short. If wrong I’ll get out.

Thanks,

Joe

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Joe Duffy

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