I am looking to add more positions to FAZ at two conditions: if S&P 500 breaks 50 day EMA at 1160 range or if S&P 500 retraces to 20 day EMA at 1190 range. I am becoming more confident that there will be another sell off in the stock market where it takes S&P 500 to 1040 range once again. But if that were to happen, then it must first break 1130 and 1090 support levels.
Do you think we will see S&P 500 below 1100 mark or do you think S&P 500 will continue to rally above 1200? What is your trading strategy?
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