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S&P500 Key Levels

Summary:
The S&P continues to march toward, what we believe, is the next major area of resistance at 2640ish, which is the zip code where the 50-day and next key Fibo live The market will soon be tested with the Q4 earnings reports, which will be interesting, to say the least, with all the foreign exposure in S&P500 earnings Doji candlesticks have signaled coming downdrafts since the October top, the closest signal we have found to ringing a bell at the top We are becoming a bit more cautious as the daily candlesticks over the past few days are beginning to resemble Dojis.  Watch this space.  If the S&P generates a nice formed daily Doji, we will get shorty for a trade The S&P needs to hold 2573.61, the key Fibo level during this sell-off The short-term marker to the upside is today’s high

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  • The S&P continues to march toward, what we believe, is the next major area of resistance at 2640ish, which is the zip code where the 50-day and next key Fibo live
  • The market will soon be tested with the Q4 earnings reports, which will be interesting, to say the least, with all the foreign exposure in S&P500 earnings
  • Doji candlesticks have signaled coming downdrafts since the October top, the closest signal we have found to ringing a bell at the top
  • We are becoming a bit more cautious as the daily candlesticks over the past few days are beginning to resemble Dojis.  Watch this space. 
  • If the S&P generates a nice formed daily Doji, we will get shorty for a trade
  • The S&P needs to hold 2573.61, the key Fibo level during this sell-off
  • The short-term marker to the upside is today’s high at 2595.32

S&P500 Key Levels

                    Source: @gabewildau

S&P500 Key Levels

S&P500 Key Levels

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S&P500 Key Levels

Gregor Samsa
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