Sentiment Timing – Morning Notes 4/8/2022

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Futures are up this morning but right at a resistance zone 4515/4530 /es.

If the bulls can push above that resistance zone, then they will most likely make a run for 4550/4593.

I am NOT seeing any buy signals yet, so leaving stop at 4550 is most likely the best way to manage trades.

If we get back down close to the 4450/4400, close the position.

As I mentioned in last night’s video, we can go either way short term and it would make sense.

I prefer lower to close the second 1/2 of the short position and then maybe try the long side.

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But it is a little foggy as to which way we will head.

The wave structure is pointing higher and the pattern/none divergences are pointing lower.

So instead of guessing, just leave stop, and see what plays out. -Gary Dean 

SPX Hourly Technicals

Stochastics: Neutral

Divergences: No Divergences 

Resistance Pivots: R1-4515 R2-4530 R3-4550

Support Pivots: S1-4489 S2-4450 S3-4420

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