Dec 18 S+P Futures Overnight Low at 2610.25 has hit a very important support place on the 4 Hour OPEN Chart that I keep.
Futures have bounced up 15 points, after hitting pattern support. The futures market has done it's job overnight, at defining price parameters. for 12/10 Regular Hours trading.
In this case, use 2610.25 as a LONG STOP for any bullish bets on the S+P. while also using a BREAK of 2610.25 Support, to initiate MAJOR NEW SHORT POSITIONS.
Of Note: Short Term RSI Continues in Bullish Mode.. ESZ Last 2625.75
THE_UNWIND 12/10/18 700 am NEW YORK Proprietary Chart Analysis,Not To Be Construed As Trading Advise.
just my opinion but SPX is secretely driven by eurjpy, i do not see how it could go up as long as we do not have reached the targeted floor of eurjpy which is estimated at 119.7 .
SviCapital
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It is shaping up as a false breakdown of a well established range. Despite the gap down opening the sellers were not able to follow up and the buyers pushed the price right back. A bullish sign short term. Definitely makes sense to entertain a long entry.