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SP2H Hit PO2 and it acted as resistance and QQQ hit the target and is now
retracing. what is next? Time to look for a new entry point. Like crossing
the street, look both ways. Ira.
Ira Tunik wrote:
> Here is the matrix for QQQ and one for SP2H.
>
> PO = price objective. The target is the end of the move for that
> cycle. In conta trend moves price usually stops at PO1. Price
> objectives and targets first act as Support/Resistance, depending upon
> the direction of the move. Once penetrated they tend to act
> Resistance/Support. The prices that have a dotted background a prices
> that have been reached. The green background denotes the active cycle.
> The S&P could reach its price objective in the night session. The QQQs
> haven't hit the Entry Price for the up move as yet.
>
>
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