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Saturday, December 22, 2018 10:53:04 AM
Market Weekend Update - Short Term
By: Tony Caldaro | December 22, 2018
Trying to track the short term waves during this downtrend has been a nightmare. Fifty, sixty point rallies followed by one hundred point declines have occurred on a regular basis. We even had a 100 point decline this week that took only an hour after the FOMC statement. The SPX/DOW and NDX/NAZ have all wiped out their entire 2018 gains in just two months.
Nevertheless, there are additional potential supports at the previous downtrend lows of this bull market: SPX 2408 Minute ii, and SPX 2329 Minor 4. Add them in to the previous four potential supports and we have: 2408, 2376, 2329, 2309, 2270, and 2242. The market hit SPX 2409 on Friday. Best to your trading!
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• DiscoverGold
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By: Tony Caldaro | December 22, 2018
Trying to track the short term waves during this downtrend has been a nightmare. Fifty, sixty point rallies followed by one hundred point declines have occurred on a regular basis. We even had a 100 point decline this week that took only an hour after the FOMC statement. The SPX/DOW and NDX/NAZ have all wiped out their entire 2018 gains in just two months.
Nevertheless, there are additional potential supports at the previous downtrend lows of this bull market: SPX 2408 Minute ii, and SPX 2329 Minor 4. Add them in to the previous four potential supports and we have: 2408, 2376, 2329, 2309, 2270, and 2242. The market hit SPX 2409 on Friday. Best to your trading!
Read More »»»
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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