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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.
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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