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back to support which was previously resistance. let's see any buyers here. so far it sounds like the old mad cows were back...
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SPX 2710 range very key.. it goes.. look to possible measure move to inflation low spike 2625.. buckle for a possible fast move.. or big down gap on Tuesday.
/ES red lin, blue line white line Very key..it breaks down .. look out below!
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fehro wrote:mind bonds next week.. pretty hammer on the 50w SMA fwiw
First touch by declining price of an upslope 200period MA usually provokes a reflex response of BUY, support, defend from investors, whatever timeframe.
Just to point out the resistance that was tested for the second time at around 6 AM UTC 5 (New York) stopped this move as well. Coming up on a fourth test so we will see.
ES pausing at the overnight high, as 4th try on resistance was successful. Just to note overnight high was easily exceeded the last couple of days.
So here we are at the big Fib level and it is options expiration day. Who knows what the volatility playing hedge funds have done with options to try to keep the doors open, but it had to be part of the set up for the mad cow rally. So three day weekend and options expiration means this, in theory, could be the short term top day.