Spu’s…1423-21 is the key closing level. Price action under this level the first time down should be suspect.
In other words it needs to maintain and stay below this level for a deeper correction.
Nasd…2663 is the corresponding level
Midcap…100630
Russell…82680
Bonds…(DEC) Z…150.26….(149.15 H) March
These are Outside reversal levels…”closing levels”
Look for price rejection the first time into these zones…
If we see these areas after the FED, we’ll have traveled a good distance intra-day, meaning
they can trap Bears the first time down.
Late morning has the potential to be a volatile price action trade, so having the levels in front of you
is important to keeping a clear unemotional head.
