i posted the below on the thursday thread. given that this is my...

i posted the below on the thursday thread. given that this is my defined trading range for the spx tonight, i guess i should have posted it here.


"farsight

the important levels for me based on the spx weekly are approx 860 and then important support at about 830. if 830 goes, there's nothing but dead space til about 720.

it's a wait and see game at the moment. but like you, i have defined important levels and based my investment strategy accordingly.

in the short term, last night's trading range was fairly obvious - short term indicators suggested the market was oversold and price rallied back to important resistance zone.

for tonight....i'm not sure....but i think 906 could be on the cards. price has a couple of barriers to get through, including the last session's resistance at about 898 and then 901. 906 may be it for this rally - we'll see.

i note this morning that maximum pain for spx opex has moved up to 870....so more fun and games in store for both bulls and bears. as the saying goes - "something for everyone". :)"