100% MM. key time for bears as this is the 2nd test of daylow.
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cannot exceed 100% mm then still bulls rule, wait.
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uempel wrote:I guess this level is too important for bulls and bears, trench warfare No money maker for traders Bye guys, I'm off
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I guess it's better to be agnostic, but don't see how bulls can produce the break out now. VIX and CPC are too low. Besides even SPY is weak today if one accounts for falling dollar.
Fortunately, I'm shorting XLF, and that is much weaker than SPY lately. And XLF behaves just like in mid August (lower lows and highs).
another 100% mm, don't think bears are able to make it though.
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SPX 5m... seems the red channel is in play.. could be a bearish falling wedge/bull flag... if green line holds again... if not.. lower red/magenta channel?