Doji on April 14, making top of crown (trend reversal). If tomorrow is not hugely green, we may have reached the top of bull trap and follow the crown curve to 264 and eventually to 246.
Keep in mind there is always the Fed and trump tweets to work against TA but all signs point to reversal.
Testing ichimoku cloud resistance April 15,16 as well. Tested 0.5 fib multiple times - unable to break through cleanly.
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Seems like futures are bigly green. We may see a clean break of the 0.5 fib tomorrow and if that happens, there is more upside and test of 0.618 fib at 292. Let's see what tomorrow brings.
@jryda, that as well. Max pain for options expiring tomorrow is 275 though so the move is counter-intuitive if you believe in max pain theory. Also, all my options are going to get IV crushed tomorrow as well lol...
jryda
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@quicksilver0311, max pain maybe in very low IV situation but not now
quicksilver0311
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@jryda, By eod IV will be crushed as MMs cover. You can guarantee that.