The Market Minute with Stats Edge Trading
S&P 500 about to bounce?
S&P 500's Retreat to the Rising 200-Day Moving Average
The focus of the market minute today will be the pullback in the SPY 0.00%↑ or S&P 500. We are reaching an interesting zone here with price support, a rising 200-day moving average (see a backtested algorithm about that here) and the YTD AVWAP all with the potential to act as support.
If we start to see a bounce from that level I am watching SCS 0.00%↑ showing relative strength and a nice bull flag after a strong earnings beat. For my full watchlist check out the link below. If you are not a trade-ideas sub use STATSEDGE for 15% off at checkout.
Watchlist: https://www.trade-ideas.com/Cloud.html?code=a6562dad9ce6e2fbb513fa8ee3bbb61e
Solid.