03/11/2020 #SPX #ES_F Either way is possible
Elections day.
Market was up yesterday and do look to continue - though on my system it is bearish on both monthly and weekly. But expect some volatility today (or maybe tomorrow) and thus either direction is possible.
My bias zone is at 3306-12. Currently price is up, supported by my 3320-24.6 resistance zone. Upside targets are 3345.2-50. 3362-64 should cap high of day.
Based on price action, we might have a deeper pullback to 3292-98.6 but still go up. Do nothing between 3298.6-3306.
Below 3292, look for shorts, target 3266, 3212-8.6. If 3196 trades, it should cap low of day, presenting low risk buy level.
Market was up yesterday and do look to continue - though on my system it is bearish on both monthly and weekly. But expect some volatility today (or maybe tomorrow) and thus either direction is possible.
My bias zone is at 3306-12. Currently price is up, supported by my 3320-24.6 resistance zone. Upside targets are 3345.2-50. 3362-64 should cap high of day.
Based on price action, we might have a deeper pullback to 3292-98.6 but still go up. Do nothing between 3298.6-3306.
Below 3292, look for shorts, target 3266, 3212-8.6. If 3196 trades, it should cap low of day, presenting low risk buy level.
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