SPI 10:14 am
Higher open on SPI due to %rate news, and it’s where traders would have exited their longs yesterday. (bummer)
Today:- Expectation that the gap on the downside would close, or move into a 44 point move down, this aligns with upper resistance of the weekly 50% level @ 6716…
A gap completion down, doesn’t support Buying, it confirms rotation back down in ‘gap’ closure where day-traders partial exit on 44 points down with the expectation that gap will close…..
Partial exits on 22 points from swing highs @ 6698, and move to breakeven stops from entry or above todays highs with gap ‘closure’ expectancy…..stops above highs should move any 'shorts' to breakeven $dollar return if stopped out....
Today:- Expectation that the gap on the downside would close, or move into a 44 point move down, this aligns with upper resistance of the weekly 50% level @ 6716…
A gap completion down, doesn’t support Buying, it confirms rotation back down in ‘gap’ closure where day-traders partial exit on 44 points down with the expectation that gap will close…..
Partial exits on 22 points from swing highs @ 6698, and move to breakeven stops from entry or above todays highs with gap ‘closure’ expectancy…..stops above highs should move any 'shorts' to breakeven $dollar return if stopped out....
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