Monday opened higher to the super critical 1543 area and dropped back quickly spending the remainder of the day trading in a narrow range on low volume. After the FOMC policy statement Wed weekly cycles are due to turn down bias. If that turn down can hold above the 1522 to 1516 zones on the 60/120 minute charts we should get the run at 1600 by Thanksgiving. If that support fails the top may be in at the 1576 high. I favor support holds.
2 comments:
Well, nice analysis you have
Thanks for the kind words
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