Technical Analysis and Outlook In the week's trading, the S&P 500 market dropped 5.8 percent and completed our Outer Index Dip 3640. Upon verification (In progress), expect the rebound to Mean Res 3788; however, if all fails, the index will take us to the next Outer Index Dip 3530 mark.
Simply put, I do not know; what I know is this: the numbers presented on the chart you are seeing are real and current - The market will tell us where it is going once the current play scenario is played out and open for all to see. As I have stated previously, I don't trade or invest in what I think! - Should, could, would.
Trade Selecter System deals with the essence of the markets, all based on actual trading: price action, volume, and in the case of futures, open interest, which is always the same and is changing. But this reality can only be comprehended within an individual consciousness, which "falls in tune" with the market - Always.
Good trading
BlkGold
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Thanks for the update. SPX hit the projected outer index dip at 3640 with amazing precision. I can see where the double touch on 3640 favors an upcoming rebound. How likely do you think a move above mean resistance of 3788 is at this point if the rebound is confirmed?
Trade Selecter System deals with the essence of the markets, all based on actual trading: price action, volume, and in the case of futures, open interest, which is always the same and is changing. But this reality can only be comprehended within an individual consciousness, which "falls in tune" with the market - Always.
Good trading