Tackle Today – Support and Resistance: Lines in the Sand
November 30, 2022
«Here are the S&P 500 levels to watch.»
Traders,
The S&P 500 enters today’s Powell speech at an exciting juncture. The daily trend is slowing in momentum and wrestling with a declining 200-day moving average directly overhead. But it’s still an uptrend that hasn’t broken any prior pivots so far, and we’re entering a month with a bullish reputation.
It pays to draw your battle lines and prepare for any outcome in times like these.
Below, support looms large at $390. Set an alert. If broken, the trend will demand you downgrade your bias. In other words – get less bullish/more bearish.
Above, resistance awaits near $404. Set an alert. If broken, it will signal a continuation of the uptrend. Upgrading your bias at that point would be wise. Enter bull trades, exit bear trades – you know the drill. Your move, mister market.
Video Of The Day: Queen’s Court – XLV Stock Breakdown
On today’s Queen’s Court, coaches Emily and Matt have a discussion on a Stock Breakdown on XLV.
Chart of the Day: S&P 500 ($SPY)
Brace for a battle between the 20-day and 200-day moving averages.
Today’s line up
Traders Lounge 11 AM EST
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The Coaches Show Replay
If you missed last night’s episode where Coach Tyler Craig discussed Risk Management Best Practices or would like to watch it again, check it out here.
Halftime Report 12:30 PM EST
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Trading Justice 504: Why Stocks Beat Inflation
In this episode, Mark and Matt are joined by Coach Tyler Craig from Tackle Trading. Coach Tyler wrote a recent article on Tackle Trading titled “Why Stocks Beat Inflation”.
Tyler joins the podcast to discuss the topic and share many facts surrounding stocks and inflation. Inflation has definitely been the storyline in 2022 and Tyler brings an interesting perspective.
Listen to this episode in the player below.
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