Wednesday, March 15, 2017

Nasdaq (update)

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.


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