In an earlier post today, I had written about the importance of MA(20) on the S&P and how it could be a potential game changer. Check it out if you haven't done so already! Well, the last two times the bears tried to take out this level during the course of this rally, the index rallied 23 and 13 points respectively the very next day.
And this is what makes tomorrow interesting in my opinion. Can the bears finally manage to drag the markets below this important level or will the bulls make a strong comeback like they have done in the past. As I have said before, I am betting on the bulls until the MA(20) actually does get taken down.
Take care and good luck!
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