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SPX Measured Move Target Met, Fib Support Tested

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#1 SemiBizz

SemiBizz

    Volume Dynamics Specialist

  • Traders-Talk User
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Posted 19 March 2018 - 12:18 PM

From Today's SPX Forecast:

 

SPX - INSIDE DAY ON BLOWOUT OPEX VOLUME... Finishes SIDEWAYS/UP at 2752 or up about 4 points on the day... so a CONSOLIDATION, and we saw this PLUMMET AT THE CLOSE ON FRIDAY and given the HYSTERICAL CLOSING PLUS TICK of 519... we see a sharp pullback coming our way.  Now we could see some bounce on an unwind, but besides our other signals here we have an NR7 DOJI... which, if we do go lower in a wide range day would give us a short term downside target around 2702 - and of course that is also Fibonacci support... so that's what think this is headed... we'll see if we're wrong. 

 

 

2742 Fibonacci Resistance... Gapped under this morning...

 


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