<p>As the trading day works toward the close, the S&P ticked briefly above its 200 day moving average at 3968.82. The high price reach 3970.15. </p><p>Recall from earlier this week, the price closed above the 200 day moving average on Monday and Tuesday, but stalled on Wednesday and fell sharply. The price reached down into 3885.54 yesterday, before starting to rebound in trading today. The low price today stalled against the 50% midpoint of the range since the mid August high. That level comes in at 3897.68. The low price today reached 3897.86 just above that midpoint level.</p><p>The current price is trading back below the 200 day moving average at 3962.58. We’ll see what the next 20 minutes brings.</p><p><a target=“_blank“ href=“https://www.forexlive.com/terms/i/inflation/“ class=“terms__main-term“ id=“ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa“ target=“_blank“>Inflation</a></p>

This article was written by Greg Michalowski at www.forexlive.com.

<p>The price of <a target=“_blank“ href=“https://www.forexlive.com/terms/b/bitcoin/“ class=“terms__main-term“ id=“40c895b3-a119-446c-9ead-2735a79a3f80″ target=“_blank“>bitcoin</a> just extended to a intraday high of $21,995 just short of the natural resistance at 22,000. </p><p>Looking at the daily chart the price moved above the high from Wednesday at $21,646 it also extended above the high from November which was at $21,473. Those levels will be close risk levels now. Stay above is the best case scenario for the buyers. </p><p>The next target is at the $22,000 level. Move above that level and the next major target comes against the September high at $22,781.</p><p>The last 4 months have seen the price trade between 15,479 and $22,781. On January 13, the price moved above its 200 day moving average for the first time since the end of December 2021. Bullish.</p><p>There is certainly is plenty of room to roam. The question is does the market have the speculative players it once had, given all the negative headlines, and the sharp declines from the 2021 high up near $69000? Burn me once, shame on you. Burn me twice, shame on me. </p><p>Nevertheless, from the end of year 2022, the price is now up 32.77%. There is nothing like FOMO to get the players back to the table. </p><p>To the moon!</p>

This article was written by Greg Michalowski at www.forexlive.com.