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LONG above current HOD (2016), short below 2707


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#1 dTraderB

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Posted 07 March 2018 - 10:18 AM

Those are my important levels, for now. 

Other important levels further away from the market, at this time, are 2730 and 2700/2690 (thick zone - look back at your daily S&P chart to see why)

 

Remember the S&P hit 2681 overnight, that's 31 points from where it is now, 2713 !!

Looks bullish, at this time, but this market moves quickly so anything can happen.



#2 Shaggies_View

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Posted 07 March 2018 - 10:25 AM

I would have liked a good test of the 2681 level at the open



#3 dTraderB

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Posted 07 March 2018 - 11:17 AM

I also would have liked to trade from the that low but you got to admit this is still a very resilient market and there are still too many buy-the-dip-pers.

However, asl long as the S&P remains below the post-cash high of 2789 then the bias is towards the downside. 

 

I am not ruling out a close today below 2680, that is, a new low today.

 

I am bearish medium-term but go whichever way the market goes in my daytrading.