An objective short area would be a bounce back up into 15 minute
resistance above as part of a two step advance with a stop above
that area. The SPX may be attempting to carve out another triangle
here. This market is having trouble even getting a decent bounce
going.
That ob short area looks to be around 1044 on the es but by that
price we would have broken the triangle to the upside. How would
you play it in that case?
The objective area is higher as shown above as 15 minute
resistance 1049.50-1055 area. Nothing says it must go there
but that would be an objective zone.
After the very small bounce off the 1042 low, the SPX has been
in such a tight 4 point range for the last 2 hours, it's like
watching paint dry. Thank you for the advice on when to
re-short GDX.
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SPX Futures Symmetry Resistance and Support
Posted by steve on 29th of Jun 2010 at 10:09 am
Support:
5 Minute
15 Minute
60 Minute
120 Minute
Daily 1063.50 (Friday's low time and price key level) busted ! 1006-1009 next
Resistance:
5 Minute 1038-1040
15 Minute
60 Minute 1044-1053.25
120 Minute
Daily
(EST) 3:54
5 Minute ( very fluid and subject to quick changes at times)
15 minute
60 Minute
SPX Cash Levels (add approx. 4.5 points to to the Sept levels posted above)
ES symmetry target on 5/15
Posted by steve on 29th of Jun 2010 at 03:19 pm
ES symmetry target on 5/15 minute is 1034.25
1031.50 is next target.
Posted by steve on 29th of Jun 2010 at 03:26 pm
1031.50 is next target.
thats on the futures correct?
Posted by dylan398 on 29th of Jun 2010 at 03:48 pm
thats on the futures correct?
Yes Dylan.
Posted by steve on 29th of Jun 2010 at 03:51 pm
Yes Dylan.
SPX trying to follow the
Posted by steve on 29th of Jun 2010 at 12:49 pm
SPX trying to follow the EURO higher at this moment.
An objective short area would
Posted by steve on 29th of Jun 2010 at 12:37 pm
An objective short area would be a bounce back up into 15 minute resistance above as part of a two step advance with a stop above that area. The SPX may be attempting to carve out another triangle here. This market is having trouble even getting a decent bounce going.
That ob short area looks
Posted by chlo888 on 29th of Jun 2010 at 12:53 pm
That ob short area looks to be around 1044 on the es but by that price we would have broken the triangle to the upside. How would you play it in that case?
Thanks
The objective area is higher
Posted by steve on 29th of Jun 2010 at 12:56 pm
The objective area is higher as shown above as 15 minute resistance 1049.50-1055 area. Nothing says it must go there but that would be an objective zone.
Thank you Steve
Posted by beth on 29th of Jun 2010 at 12:49 pm
After the very small bounce off the 1042 low, the SPX has been in such a tight 4 point range for the last 2 hours, it's like watching paint dry. Thank you for the advice on when to re-short GDX.