Prices ended up higher today after the FOMC decision. It looks like we are headed into the very top of my overall resistance zone. The sweet spot to look for a sell signal will be between 5444.25 and 5535.50. If prices trade above that zone, then this MM Fade pattern fails. I would need to see more signals supporting a bearish trade, but so far there's a monthly R2 pivot towards the top @ 5512.42. Also, locally we have 2 MM's creating Fib combos in the zone. Let's see if we get a bearish candle pattern to form.
Wednesday, March 15, 2017
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