Buy S&P 500 @ 1770 for 30 minutes expiration or less if it breaks & stays above
S&P 500 possible rebound & support @ 1770 even after it dropped below
Result: invalid
S&P 500 slightly broke above 1770 but failed to stay above therefore signal is invalid
We further mentioned that 2nd possible support @ 1765 also failed, 3rd @ 1760 but it doesn't look safe to trade anymore after it kept falling
All supports were weak for the past few days but stocks continued to go higher, so it's also possible for S&P 500 to rebound below supports again but not really safe to trade
S&P 500 then dropped below 1760 then rebounded back up to 1765 & dropped again, even breaking below 1750 to close @ 1747.15, showing that we were correct but it's too risky to trade because the market might continue to go higher despite breaking below supports like before
Tomorrow's NFP should make the market even more unstable, continue to trade less & more cautiously until it's stabilized
Possible rebound @ 1750 tomorrow even after it dropped below but it'll be risky to trade
No comments:
Post a Comment