With the economic news today (PPI at 8:30 and Fed minutes at 2pm) tomorrow (CPI and jobs data at 8:30) and then earnings starting Friday it may continue to be choppy. There are other possibilities, but two are shown - Over 3700 with a 4 hour close would be bullish (green arrow) A rejection at the green channel trendline may get us down to the weekly BB around 3500, but I still think it would be a buy area. Best to wait and see what happens on any fast moves and not jump to any conclusions. I still expect the October low this week.
Good luck!
Good luck!
Kommentar:
may get something like this today, be careful with position sizing
Kommentar:
this is looking possible right now. If we get to the trendline by 2pm, FOMC is probably a sell or at least lighten up on longs. A blast over it and hold would be a a stronger case for the bulls.
Kommentar:
another possibility is triangle, which makes sense with this chop
