The S&P 500 tested the big $4,300 level on Monday. The next key level to look out for is the August high around $4,325.
Right now, the path of least resistance appears to be to the upside. SPX is printing a handful of Big 3 buy signals on the weekly, daily, 4-hour, 2-hour, and 1-hour charts. The weekly squeeze officially fired to the upside on Monday. Based on the power of the nested squeeze, there is a strong chance that the SPX could break through that level and break higher.
The key is if the SPX can break through $4,300 on its first try. In the video below, I review where I would buy SPX and NFLX on a pullback. I’ll also review the new position opened on Monday in the Compounding Growth Mastery.
Position Update: We managed our risk and cut our MSTR trade last week for a small loss. Remember, we want to minimize our losses and maximize our wins.
Check it out:
$MSTR we cut our put credit spread for a small loss here. Under daily 21EMA with B3 sell signals on lower time frames is NOT how a stock should behave before a big move higher. Might get "shaken-out", but my preference is manage risk first, and then jump back in if things improve pic.twitter.com/LjRKJfriyX
— Taylor Horton (@taylor_horton24) June 2, 2023
Stay Focused!