Does This Reversal Support “All In?”

In this Educational Chart of the Week Video Below,  

We Review a Reversal in an Extended Move Lower Using MTS Analysis.

Each MT Live reviews one of the concepts from Master Trader Strategies. Those concepts are covered in greater detail, and combined with other MTS concepts, we create a trading plan.

Charts are a picture of traders' actions, beliefs, and expectations created with money.

In this Chart of the Week, we explore the current market's move lower and reversal

The broader markets have been in a three-week correction, but for the first time in 17 trading days, the S&P 500 and Nasdaq 100 have closed above a prior bar’s high.

While closing above a previous bar isn’t usually significant, the fact that it hadn’t happened in weeks makes this a short-term buy signal.

However, the stair-step decline has left multiple overhead resistance levels, including the widely followed 50- and 200-day moving averages, where sellers will likely step in.

Additionally, weekly uptrends have been broken—something we haven’t seen since early 2003.

🔵 Master Trader Tip:
Two bearish trends increase the probability of another move lower.

Many traders struggle to let go of past trends, but failing to recognize the current reality can be costly. While this environment offers profitable opportunities for active traders, it does not support the assumption that the prior two-year trend will simply resume.

🔵 Subscribers to the Advisory Swing and Options Trader stay ahead with our reliable market timing, swing trades, and options strategies.
🔵 Weekly Options Trader subscribers are in a sweet spot right now, as the short-term price extension and reversal create high-probability setups for credit spreads.

Watch the video below for a breakdown of the recent reversal and the first key target area.

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