I see two gaps that need to be filled. Will they get filled? I don't know. I am leaning bullish. I can see the market bumping up against the 200sma one more time before falling down to fill the gap on the bottom. Then a bullish climb higher to fill the gap higher?
Or perhaps it doesn't fill the gap on the upside yet on Friday and will wait for Monday or Tuesday?
I will take it bar by bar and see what is in store.
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This would be my bearish scenario for the day. A run up again to hit the flat 15' 200sma before falling down to fill the lower gap and then closing back inside for a range.
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Thursday's session was bullish because it could not close below the 5 minute 200sma. Only once did it break it and then it was by a hair. Price stayed well above it for the vast majority of the day.
I could see where your bullish the high was slightly higher, and so was the low.. the last candle before the gap showed was below my support line( it was a full body below) and did have a tail.
@kevinc4541 yeah I am bullish all the way to 2035. SP500 has been extremely strong. I believe SP500 has a price target of around 11 to 13k in 2035. Also because the contract rollover is March 11th, people are trading the June contract already and so there is a discrepancy in prices from one contract March to the other June
kevinc4541
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wtf am I looking at tradveiw has the dow futures ripping 425 all 3 have gap ups.. but every other source I check has slightly negative futures
travis18haney
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@kevinc4541 it's the contract rollover coming soon. I have seen this before. Different brokers show Different prices
kevinc4541
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you're the first that provided an explanation. ty. I'm not sure where the markets stand ATM, but I've been baffled the last few hrs
travis18haney
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@kevinc4541 yeah let me check which date did that before and I'll get back to you