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The S&P 500 Pulled Back as Expected, but will there be any follow through? by scaredycatguide

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· @scaredycatguide ·
$7.12
The S&P 500 Pulled Back as Expected, but will there be any follow through?
Yesterday in the discord chat in the leo trade talk room I mentioned how the S&P 500 was 120 points away from its 10 day moving average and every time it has gotten that extended, sometimes even more extended after a several day run up of green candles we received a pullback.

Thus, I added to an existing short position I have had on and today got a little relief and took a small profit on part of that new add.

## Is that all the rest it needed?

![image.png](https://images.hive.blog/DQmPAezqQtnF5sU1E8uw3Z2Q3XFFKZJYQ2ekLn4q3PDs1Nz/image.png)

The biggest things I am trying to figure out now is if this is the beginning of a sell off or consolidation or it the S&P is just gonna keep pushing toward the all time highs after one day of rest?

I want to say I can't see how it could go higher the rest of this week, but I have seen enough in 2020 to know that would be foolish.

You'd like to think there will at least be a fill of the gap from Monday's candle  after being up several days in a row.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/hive-167922/@scaredycatguide/the-s-and-p-500-pulled-back-as-expected-but-will-there-be-any-follow-through)
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