The index this morning slipped to below 4500. When you consider that the advance above 4500 had no support levels, the dips back over the past few days should be welcomed as they build up support that was lacking in the advance. 4500 has to become decent support in the S&P in order for the index to move to 4600 and then 4700. To get that support, the index has to waver and gyrate up and down until investors are unwilling to sell their stocks on each little dip. That’s when support will be in the S&P and the index can push higher.
Here is a trade setup today that was discussed in the morning Investing Strategy Notes, to generate an easy 2% for just a week and a half of risk.
The rest of this trade alert and ideas article is for FullyInformed Members.
1st Trade Alert and Idea for Wed Sep 8 2021
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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.
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