Market comments

    Posted by matt on 7th of Mar 2019 at 09:58 am

    $SPX - Chart Link- here's a 120 min view, the market has now pulled back 71.2 points off the highs, that's greater than the 62 point pullback in early Jan. 

    anyway the horizontal lines represent areas of possible support which have been important in the past.  2740 was resistance in early Feb, now possible support area.  

    and of course 2680 below that is MUCH more important as you can see it has been support and resistance tested 4 times in the past

    Update: Market comments

    Posted by matt on 7th of Mar 2019 at 11:36 am

    $SPX - Chart Link - that broken trendline area would be a good place to look for a short if price gets back up there

    $SPX - Chart Link - here's the 10 min view, clean

    Update: Update: Market comments

    Posted by matt on 7th of Mar 2019 at 11:43 am

    Matt, could this be a

    Posted by rogerv on 7th of Mar 2019 at 11:24 am

    Matt, could this be a "Bearish" Trend Day?

    Update: Market comments

    Posted by matt on 7th of Mar 2019 at 10:28 am

    $SPX - Chart Link - here's the 60 min chart, slight bounce off that support area.  Otherwise 75 points off the highs, a clear break in symmetry.

    I think over time SPX goes to the 2680 area which is BIG support below, however I think probably get a bounce sometime in between, lower high then down to that level

    Update: Update: Market comments

    Posted by matt on 7th of Mar 2019 at 11:25 am

    $SPX - Chart Link - so for a choppy abc bounce basically

    Update: Update: Update: Market comments

    Posted by matt on 7th of Mar 2019 at 03:19 pm

    $SPX - Chart Link - price fell back to that support area, now 77.8 points off the high, so any questions about a symmetry break should be answered. 

    there is some RSI divergence here and price is at this support level.  Obviously the big support is that 2680 level below, which I believe will be tested over time, but do we fall right there or have a bounce first. With the symmetry break if price does find support here and bounce, one could look to short that next higher low

    market bounced right off that

    Posted by matt on 7th of Mar 2019 at 10:36 am

    market bounced right off that 2740 ish support zone.  

    Matt should we look at

    Posted by DK on 7th of Mar 2019 at 10:34 am

    Matt should we look at the 9ema for possible resistance on a bounce on spx?

    yeah that could be resistance

    Posted by matt on 7th of Mar 2019 at 10:36 am

    yeah that could be resistance now.  

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