sp'60min
sp'daily5
Summary
Reflect on the daily chart...there is is clear multiple resistance in the 1810/15 zone. I just can't see the bull maniacs breaking above that to new highs, at least not in the current cycle.
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So..we have a clear re-short zone...later today/early tomorrow. Just a case of waiting for a clear rollover/levelling phase on the hourly MACD cycle.
Arguably, the pro traders out there will be building shorts from 1800/05....with short-stops in the 1820s.
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Notable strength: STX, +2.9% @ $53, but that is likely a dead cat bounce, after the -12% post earnings drop. Primary downside is 47/46.
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11.30am.. sp'1785.. looks pretty clear now. The maniacs are making a play for the 1800s...later this afternoon. VIX probably set to turn red later..if briefly.