Wednesday, March 18, 2015

Fed Day Bounce

We got our first signal of the week and it was a buy signal at 9:45am candlestick this morning and it was a great signal right at support of $210.09.  The signal was good for a short term  pop before prices moved slightly lower before the massive 2:15pm move higher.  We cut through all the pre-defined support and resistance lines both medium and minor  (denoted by the dotted lines - solid lines are major).  Oddly enough price was stopped my minor resistance at 211.25.  So I guess it might become major soon enough.  By the way the market closed I have to believe we will test the all time highs once again.

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