Been getting grinded in the chop. It seems to me we
continue to chop and retest this 2590-2600 resistance.
After a few retests (which I think we've now had over the
past few days) we should break through up to the 61.8 retrace
around 2630 since so many of the moves in the past few months have
gone to the 61.8 ... and no one seems to care that earnings are
going to miss... retail already missed, aaple cutting prices, list
goes on.
yep as I've been stating, the market has been loving that 61.8
Fib, on the daily charts and even intra day moves seem to always go
to it from a daily chart to a 15 min chart to a 5 min chart. Also
the 50 MA is right up there too
deep - that could happen before we get into the heart of
earnings. Best to take things one day at a time but I believe
earnings (guidance) will matter as more firms report.
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Been getting grinded in the
Posted by deep on 10th of Jan 2019 at 02:56 pm
Been getting grinded in the chop. It seems to me we continue to chop and retest this 2590-2600 resistance. After a few retests (which I think we've now had over the past few days) we should break through up to the 61.8 retrace around 2630 since so many of the moves in the past few months have gone to the 61.8 ... and no one seems to care that earnings are going to miss... retail already missed, aaple cutting prices, list goes on.
yep as I've been stating,
Posted by matt on 10th of Jan 2019 at 03:36 pm
yep as I've been stating, the market has been loving that 61.8 Fib, on the daily charts and even intra day moves seem to always go to it from a daily chart to a 15 min chart to a 5 min chart. Also the 50 MA is right up there too
Matt, guessing a whole lot
Posted by DK on 10th of Jan 2019 at 03:40 pm
Matt, guessing a whole lot of traders are looking at the 50MA and 61.8Fib and you wonder if the sellers could come on prior to reaching those levels.
yep, the SPX is now
Posted by matt on 10th of Jan 2019 at 06:01 pm
yep, the SPX is now in a range where it could have a nice pullback anywhere from right now to up into that 2360 area
Did you mean 2360 or
Posted by amp43679 on 10th of Jan 2019 at 06:13 pm
Did you mean 2360 or 2630?
deep - that could happen
Posted by steve on 10th of Jan 2019 at 03:17 pm
deep - that could happen before we get into the heart of earnings. Best to take things one day at a time but I believe earnings (guidance) will matter as more firms report.