SPX has many options to choose from
Jack is back! Jack has been trading the S&P 500 for years and knows that there are always many options to choose from when it came to making a trade. He watches the market closely, paying attention to the resistance and support levels that he knew could make or break his decisions.
One day, Jack noticed that there was significant resistance near the 4050-4080 range, which is near the 61.8% golden zone rejection area. He knew that if the market couldn't break through that range, it would continue to look bearish. However, Jack also knew that if they could break through that range, there was a high degree of possibility that the market would climb to 4300 in the next few weeks.
Jack also knows that there is significant support at 3800, and he knows that if the market dropped to that level, it would be a good opportunity to buy more stocks at a lower price to hold for a few weeks.
Jack is keeping an open mind when it comes to the wedge formation, but he knows that it is only a projection and not the primary count. He understands that projections are based on assumptions and could be unreliable, and that it is too early to make any predictions on a wedge trade. Instead, Jack is monitoring the market closely, keeping an eye on any changes in the resistance and support levels. He knows that it is important to stay informed and make informed decisions based on the current state of the market, rather than relying on projections or assumptions. While the wedge formation is an interesting development, Jack is careful not to let it cloud his judgment or influence his trading decisions until more concrete evidence is available.
One day, Jack noticed that there was significant resistance near the 4050-4080 range, which is near the 61.8% golden zone rejection area. He knew that if the market couldn't break through that range, it would continue to look bearish. However, Jack also knew that if they could break through that range, there was a high degree of possibility that the market would climb to 4300 in the next few weeks.
Jack also knows that there is significant support at 3800, and he knows that if the market dropped to that level, it would be a good opportunity to buy more stocks at a lower price to hold for a few weeks.
Jack is keeping an open mind when it comes to the wedge formation, but he knows that it is only a projection and not the primary count. He understands that projections are based on assumptions and could be unreliable, and that it is too early to make any predictions on a wedge trade. Instead, Jack is monitoring the market closely, keeping an eye on any changes in the resistance and support levels. He knows that it is important to stay informed and make informed decisions based on the current state of the market, rather than relying on projections or assumptions. While the wedge formation is an interesting development, Jack is careful not to let it cloud his judgment or influence his trading decisions until more concrete evidence is available.
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