As I have been writing for a couple months I think the highs of this leg higher in the market will be seen in July. Today we got our first small window into the downdraft to come I believe. I am looking for a definite break towards 878 before the end of next week or a short into that 938-945 zone or an ultimate 961.50 for a high probability short trade. We still have a technical target of 996.5 to 1069.75 area.
Ideally I would love to see us test that 962 area in July and pullback then test that 996-1069 area somewhere in the Last September- October as the final hurrah for the bulls but we will see soon enough.
On that note I think Oil was a short today in the $72 area and we will see how far it pullback. I do have some numbers around $61 which should provide the first real zone of support.
Please make a note of these levels, they always provide excellent trading opportunities.
MARKETJEDI
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- Charlotte, NC, United States
- Bring real information to the average person about the Financial markets. I am a technical trader that uses alot of technical tools such as Fibonacci, Bollinger Bands, MACD, TRINS, VIX to read the markets
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