SPX Reject the Gap

This is a very classic move that SP500 rejecting by the gap. Now we have a gap down at $3800. Let's see if it's going there and test it.

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On Monday It may bounce at $4000 and retest at $4100.

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Has a little bit oversold. Might bounce at $3920.

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ES Futures already hit 2.618. Tomorrow: 1) might retrace $3950 and go. 2) Just go straight to 3.618 overextended.

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Trend reversed again today (I believe).

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The market seems able to return around just for 2 days and hit a resistance of wave 4 where a leading diagonal is very impulsive to its direction. Next week we need to see if it could break the order block between $3960-$3977. If it couldn't get through above the order block, it means we have a confirmation of downtrend continuation.
RSI still looks positive.

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For both bear and bull cases

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$3968-$3976 is the key level if we can pivot from there on ES Futures

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So ES hit the pivot at $3962 and look for a target of $3908 to $3948

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ES now is above the order block. Expect to go higher if it holds that support.

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thienlovv

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thienlovv