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Black Friday or historic bounce off 200-ma @ 2540


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#1 dTraderB

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Posted 09 February 2018 - 01:37 PM

A major test for the market here as the S&P 500 flirts with its 200-day simple moving average (2538).  Today's low, reached minutes ago, was 2539.54.

A test of support at the 200-day simple moving average could open the door to another flood of sell orders... OR... it could open the door to a strong rebound effort.

The last test of the 200-day simple moving average came in early November 2016.  It held and it was off to the races after that following the presidential election.

If buyers are going to step up today, this would seemingly be the time to make their presence felt -- or not.



#2 libertas

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Posted 09 February 2018 - 02:04 PM

PPT in the house



#3 dTraderB

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Posted 09 February 2018 - 02:17 PM

Strong bounce but still not in the HISTORIC category,

The main criteria for that is a daily REVERSAL or KEY REVERSAL bar



#4 dTraderB

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Posted 09 February 2018 - 03:54 PM

S&P 100 points or more than 4% above today's low