In this post:
1. Market Commentary
2. Support and Resistance Levels
3. Daily Mini S&P 500 Futures Chart
4. Economic Reports
1. Market Commentary
Big volume day. We made new lows but then reversed and rallied strong into the last hour.
Bear market rallies can be pretty vicious…. If we would have taken out yesterdays high on this rally, the buy signal you see in the chart below would have been pretty powerful, but as is if this market can maintain the “legs” it showed today, we can see a test of 1154.
Should be another interesting trading day tomorrow.
Regardless of the market direction, understand that as volatility and ranges increase, one needs to adjust their trading size LOWER in order not to get “stopped by noise”.
Below is a daily chart of the mini SP Continue reading “What to do in Market Conditions of High Volatility and Increased Range | Support and Resistance Levels”