S&P 500 potential long around 4235
Are are two setups to play the market reversal
1) buy prior POC (point of control) levels from prior blue pin bars
2) wait till market goes up again an then enter on a pull back to a prior POCs.
COT commercials index decreased from 19.8 to 19.1 so the bulls are on the sidelines.
unless there is a higher close than prior days high or a crash down to prior support levels, no entry for me.
Best entry price will always be the POC, look at how many times the prior low was not a good entry price, but POCs especially at blue pin bars always triggered at least a little bit of up movment.
1) buy prior POC (point of control) levels from prior blue pin bars
2) wait till market goes up again an then enter on a pull back to a prior POCs.
COT commercials index decreased from 19.8 to 19.1 so the bulls are on the sidelines.
unless there is a higher close than prior days high or a crash down to prior support levels, no entry for me.
Best entry price will always be the POC, look at how many times the prior low was not a good entry price, but POCs especially at blue pin bars always triggered at least a little bit of up movment.