SPY possible move down April 20
Nice clean rejections from kumo cloud resistance lines twice now on the daily chart. We may be headed lower here if the Tenken-San line (Blue line) curves back down.
Oil dump may be the catalyst for market movement this week?
Price action still undecided as long as price movement between 0.5 and 0.618 fib levels (278.56 and 292.93). Need a clean breaker either direction for this to go to the next level.
If tomorrow opens red and breaks 280-281 area, look for the bounce off around 278 for next leg up to 292 and if we open green tomorrow, look for clean break on the kumo cloud resistance and a test of 285 again.
Plan for the day: Watch price action at open and jump into calls/puts depending on market move.
Oil dump may be the catalyst for market movement this week?
Price action still undecided as long as price movement between 0.5 and 0.618 fib levels (278.56 and 292.93). Need a clean breaker either direction for this to go to the next level.
If tomorrow opens red and breaks 280-281 area, look for the bounce off around 278 for next leg up to 292 and if we open green tomorrow, look for clean break on the kumo cloud resistance and a test of 285 again.
Plan for the day: Watch price action at open and jump into calls/puts depending on market move.
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