About to hit the top of the trading range - FOMC ahead
The market's reaction to Friday's jobs report created another Doji near the top of the trading range in $SPY.
The sentiment remains bullish as $SPY was able to erase most of the losses it opened with following the grim jobs report.
210-212$ is the immediate resistance zone but don't count out the option for a spike to take stop losses above previous record high
Tomer Jakov, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week- goo.gl/tNaV9s
To subscribe to the newsletters - goo.gl/JfOLoR
The sentiment remains bullish as $SPY was able to erase most of the losses it opened with following the grim jobs report.
210-212$ is the immediate resistance zone but don't count out the option for a spike to take stop losses above previous record high
Tomer Jakov, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week- goo.gl/tNaV9s
To subscribe to the newsletters - goo.gl/JfOLoR
Trade closed: target reached
Still can re-test previous highs as FOMC in focus now
Setup still relevant.
goo.gl/28uI95