This is my trading map for the next few days. I'm not calling a top; however, we can expect a loss of momentum due to the confluence of some strong resistance areas. The major pivot areas mostly coincide with the Fibonacci contour.
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The "Stretch" for SPY for today is 0.30. Looking at the opening range. There's nothing to do.
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I don't want to guess anything. I don't want to go long from here - we're too far from the "base" which was at around 229.
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This could be the high of the day around here.
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For today's updates pls reference the new chart I posted today.
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If SPX is rejected at the blue line, it should be a pretty low risk short opportunity. Watching.
top Envelope on DOW is 20,646.32 , so it is good to start to accumulate a short position from 20450-20500 to 20700 all stop at 20750
Technical projected resistance for today stands at 2043965. Only exceeding that level would imply a runaway breakout to the upside
UnknownUnicorn292837
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@fatboy007, there's absolutely no sign of weakness, so i'm just watching this madness, i just can't force myself to enter a long position that's for sure :)
fatboy007
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@FoggyLights, July gap on DOW to be filled one way or the other
i'm referencing this vid to stay calm and not to make sudden moves, lol