alleytrader

day trading for April 22nd

FX:SPX500   S&P 500 Index
We are still in the same distribution of last week, however there are a few interesting points to watch for. look for move below 2886 for any hope of a continuation to the down side, above that level we just remain in the 2900 and 2907 area. The high from last week is the other important zone, and above that the market could see a very strong sharp move to ATH and above.

To curb this up move last week did show some signs of fatigue if yo do not look at the DOW. So the trade and range and energy will provide some trading clues for this week.

At time of typing SPX adjustment to ES is to get ES add 3 points, keeping in mind my numbers are reaction areas not hard fast numbers.
Comment: rejection came in right on point at the typed out value of 2907, now we will see if it holds
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