SPX had a daily inside bar yesterday, so we could see a huge breakout either way today.
First, I would set alerts at the high and low of yesterdays daily candle as a first trigger. I think which ever way it breaks, we could see a big move.
That being said there was a lot of consolidation yesterday and it is tightening. The levels are a lot closer than what we usually expect on a chart like SPX.
Bear zone (reversal zone): 4144-4141
Target 1: 4137
Target 2: 4129
Target 3: 4125
Bull zone (reversal zone): 4159-4162
Target 1: 4166
Target 2: 4174
Target 3: 4177
I have alerts set for 4136 at yesterdays low, and 4161 from yesterdays high. Be careful on lotto Friday's.
On the hourly chart, you can see this is and has been a major area of consolidation, so again, be patient, wait for your levels and triggers.
This is my daily key levels chart:
Golden Goose Fib Chart:
Comments