(support)
Resistance @ 1283.50
S&P Weekly and Daily range
S&P pushed lower and remained within the daily lows. (8.5 point range)
As noted in last night’s report….
If the market is going to continue down from the January highs,
What basically needs to happen is that, Thursday and Friday need to continue down into the Weekly 50% level @ 1264, swing upwards on Monday and then sell off from 1280 early next week and down into the (3-week lows)
The 3-week lows may support the market, but it has less probability after the January highs have already been reached.
And Thursday was the first day of trying to move down into the Weekly 50% level @ 1264
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