The Bears Are Here With Oil Rising…
Not a lot of time to write today (as usual), but the past two trading days have been worthy of a quick note and a chart of the SPY. With two days of bearishness, amidst the craziness of oil prices due to macroeconomic issues, it will be interesting to see if the S&P 500 can hold above 1,300 and if it does indeed break down below, can it hold the 50 day MA at 1,286. Happy Trading!
About the Author: Mike is the founder of this site, www.mikefanelli.com He has extensive professional experience in accounting and financial analysis, and is currently a licensed CPA, with a focus on Merger & Acquisition Due Diligence in New York, NY.
