I tweeted yesterday that this still looked like a buy the dips kind of market, and that the 145 support did hold well. We are 2 days from my Jan. 11 target that represents the 45 day run from November 16. So this is where things start to look very tricky to the upside.
I still think that there is some juice to get squeezed, but that should not last for much longer in my honest opinion. Play things tight, focus on those Fibonacci Retracement levels on your individual names / setups, and that should help you navigate this market until things go kaboom.
$SPY 1st support is 145.54, 2nd support 145.26,and 3rd is 144.86.
$SPY 1st target is 146.13, 2nd is 146.84, 3rd is 147.60, and 4th one just for fun is 148.68.
Trade what you see not what you think.
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