This index seems to be lagging compared to the SPX and RUT.
Shorting the market just doesn't make sense yet.
I'm taking a long position based on the ANN strategy buy setup,
targeting ~4921 and a stop loss at ~4831.
I believe that the downward push we are seeing is due to profit taking. It is unusual to see the SP futures not in harmony with ICE #USD index. Volume still points to 111 .10 I believe as long as 109.50 is not broken the trend will continue up.
Risky week ahead. There is considerable resistance from 2080-1950. If Hillary wins, there should be a great buy opportunity in this market the next few days.
First up is the 200 SMA just below last Friday's price. Next is two strong fib levels at 2062 and 2042.
If 1950 and the long term trend (purple line) breaks ...
*** 4 HOURS ONLY ****
You need a good option strategy. See the RED solid line and the Black solid line. that's is your range. RED SOLID LINE IS RESIATNCE LINE AND BLACK LINE IS SUPPORT. BUT ALSO BLUE LINE WILL ACT AS SUPPORT TOO.
FOR LONG STRATEGY:
If SPY breaks the solid red line then goes up then it will ...