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Testing Volume Support


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#1 OEXCHAOS

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Posted 05 March 2019 - 09:44 AM

I've got a Fully Long/Fully Short 2X Sell today. I've also got a strong Buy from the Options Oscillator. Also, we don't have enough Short Bears to call a top yesterday, nor look for one today.

I think both signals will get right and that trading today will be a tangled mess. :)

 

I note that this morning's pull back appears to only be testing the volume support on the 5'. It may not hold, but if it does, that would be pretty Bullish, I'd say.


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#2 Waver

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Posted 05 March 2019 - 10:41 AM

Volume support on the 5?

#3 OEXCHAOS

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Posted 05 March 2019 - 12:02 PM

Volume support on the 5?

 

Blew through it. There's some memory support there, but it's not particularly important. This whole range here seems to have some importance for the market, though. 278400-279500. Round-number resistance?


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#4 Waver

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Posted 05 March 2019 - 02:05 PM

Ic
Thanks

#5 cycletimer

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Posted 05 March 2019 - 04:21 PM

I'd normally be slightly nervous being short the $SPX 2850 calls, but I'm not nervous in the least as the March resistance is probably capped and we may have already seen the high for this month.