The strong move of the first 30 minutes of trading was followed by a trendless market for the rest of the day. There’s a slight chance of a quick 0.50% gain or 9 S&P points.
The first support should be at the trending line followed by the 21 period ma. If the market can best the congestion area at 1840 there’s a working probability for the 1847 target. Last support is at 1828, if broken down, the trade must be exited.
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- Erick Stern
- I am a civil engineer who likes charts, to me, speculating in the markets is both a hobby and a second profession and in my view the stock market is the most honest environment, since it is only your knowledge and preparation that matters. I live, and work in the construction industry, in the Dominican Republic. I read and answer all my mail so please feel free to write firstname.lastname@example.org Thanks, Erick