Edges of resistance being tested across the indices with the biggest moves in the YM due largely to the Boeing release. Jay Powell and the statement from the FOMC is on the docket. The SPX spread expiring today- 27 points around the 2635 strike leaving us 2608-2662 as our ranges of motion.
As expected – see last night’s video on youtube, we are stretching a bit higher as buyers are clearly willing to press prices higher. How high is unknown, so don’t try to find the top.
The trading motion is upside for now into higher resistance. It is the failure to hold higher that will flash the first warning signals. Out Metastock swing system says to look for the FAILED highs as our entries short
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