Market Analysis and Trades for 12/17
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The weekly post for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. It can be found here Market Analysis for the Week of 12/14
Today was a bit interesting as NQ found some relative strength after tagging a critical spot overnight. While I’m now using the H contract (March) I keep an eye on the old Z contract as well and it came into 24817-24832 which was a major target on the short side for me. From the weekly plan and NQZ chart:
ES was the weaker index but came into the one spot I thought might halt a liquidation break.
After holding this range (which we longed) SPX close RIGHT back at recent range low, 6800 so tomorrow will be an important day. Here’s how we’ll play it . . .
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