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Re: [RT] the Matrix



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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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