Have you learned to “read through” the good news headlines yet?
Good v evil
On to the lie -
Last week’s candle indicates the downward pressure the Fed overcame. Since nothing is real, it’s not surprising they swung SPX from support to resistance in a day. 4300 could be the bogey if they can make crossing 4200 stick this time - with rising triangle target 4600 a possibility. On the other hand diagonal support driving into resistance means a decision has to be made and we should be leaving our 2 month 1000 point lockdown sooner than later. 3970 then 3800 are support.
More to come below.
Have a good day.
GL and GB!
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