Monday Feb 27 2023 SPY SPX ES Actionable Levels

Choppy session that took us down to defend the 200 dma then bulls took us back up with some dips in between to close at 3970 where bulls are barely holding onto 3966 key support level.

February 26, 2023

This is a repost from Friday of Monday’s game plan.

In yesterday’s newsletter, I wrote

I also wrote

This is exactly what happened as we had lost the 3988-3993 prior to the session open and then we lost 3967/3961 after open and bottomed out at 3943 defending the 200 day moving average. After bottoming out bulls took us on a run to close at 3970.

Did bulls do enough to defend the 200 dma or will we retest next week?

What does this all mean and where do we go from here? Read below for my game plan which includes actionable support & resistance levels, outlook for Monday’s session and today’s trade recap.

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