SPX was much sideways yesterday after the rally on FOMC the day earlier. SPX opened and moved up to first resistance before pulling back, but did not touch the bottom level. Some weakness towards the end of day as it is unable to go higher. Still SPX closed green.
I said I will scalp for the pullback. It was not easy as there were "strange" rotations between strength of DJIA and NDX, though eventually there was a pullback. What's for today?
I would say, not easy to say, so trade using the levels. Highs is definitely not in yet; just whether we will get a pullback before further up. And even if one gets a pullback do you trade this pullback.
Price is at the PZ now; sure it can go up from here; and if it breaks, 5243 double level support is there which is another bounceable level.
I would go for a move down to 5225 before the bounce though. This would be based on SPX breaking 5253 and NDX breaking 371 for the move lower.
I said I will scalp for the pullback. It was not easy as there were "strange" rotations between strength of DJIA and NDX, though eventually there was a pullback. What's for today?
I would say, not easy to say, so trade using the levels. Highs is definitely not in yet; just whether we will get a pullback before further up. And even if one gets a pullback do you trade this pullback.
Price is at the PZ now; sure it can go up from here; and if it breaks, 5243 double level support is there which is another bounceable level.
I would go for a move down to 5225 before the bounce though. This would be based on SPX breaking 5253 and NDX breaking 371 for the move lower.
Join me for free on Patreon (www.patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan.
DM me to join my new group to learn all my trading levels and to trade together.
DM me to join my new group to learn all my trading levels and to trade together.