$SPX Analysis, Key Levels & Targets for Day Traders Feb 14

Ok so where are we at. We broke out above the downtrend yesterday just under ATH’s.

35MEA is underneath the implied move which often signals too fast to soon and a pull back is normal before moving higher.

30min 200MA is underneath both days implied move and you can see that for CPI and PPI that 35EMA bounced on the 30min 200 after 3 weeks of consolidation.

All right, ATH’s on deck. Let’s see what happens. I did put on an IRON SPYDER which works well after big moves for a more neutral day - the flatter the better for me today.