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Recap: Opening was slightly outside of trading range in S&P and have
learned from experience not to take standard trade.Standard support
buy would have made 4 to 5 points though.An excellent and better out
of range short did develop however at 1303.3.Nasdaq was perfect with a
2405 buy and 2434 exit.
S&P closed at 1298.2.Buy at support of 1292.2 with stop loss at
1286.1.Profit target to min. of 1301 which is pretty close to
150% of stop loss and max. to 1304.2.
Sell at resistance of 1304.2 with stop loss at 1310.3.Profit target
to min. of 1295.2 to max. of 1292.2.
Resistance level above in case we are out of range again is 1322.3
Support level ditto is 1274.1.
Take whichever trade comes first.
Nasdaq closed at 2439.Buy at support of 2425 with stop loss at
2410.Profit target to min. 2447.
Sell at 2453 with stop loss at 2468.Profit target at min. 2431.
Take whichever trade comes first.Stops are wider than usual.Consider
E-mini.
Have a good day tomorrow.
John
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