Short Term Support/Resistance-Reaction Targets
The bulls defended this mornings early drop and are trying to break above yesterday's highs. If they do, I believe we they will make a run for the Bull/Bear upside zone which is 2860-2870. Resistance is at 2863 and there may be some bears waiting. If they can get through, 2870 should become a magnet. The higher we get, the more and more anxious the bears who missed the drop will get to "Catch the next one down" will get. They will most likely be the short squeeze fuel to close the gaps above. Even if we break down from here-short side is a bit dangerous--as many are looking for "WHERE TO SHORT" Just like when we were at the highs, the MAJORITY were looking for WHERE TO BUY.
Trader psychology is key and sentiment is our eyes-technicals are our ears for our trades. Why we can make the 100 point SPX offer--see below in the video report link--and for now--STAY OPEN MINDED FOR UP OR DOWN.
Trader psychology is key and sentiment is our eyes-technicals are our ears for our trades. Why we can make the 100 point SPX offer--see below in the video report link--and for now--STAY OPEN MINDED FOR UP OR DOWN.
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