Emini S&P First Challenge Against Quarterly Resistance Jul 21, 2015

By Lawrence

Mid-day Update: Emini S&P tested the previous quarter breakdown zone (i.e. crime scene) from below and is being rejected on this first try.

 

Bird eye’s view below showing what happened. As I stated in STOPD, it is not the extremes that matters. It is the way the extremes are produced that matters.

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Close up view tells us Emini S&P wants to challenge the open gap below (green zone) and if it fails to defend the gap, the closing of the gap is also previous week midpoint which is the likely target for failing to hold above previous week high according to STOPD.

image

 

FTW – What I posted this morning:

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May not go all the way to previous week midpoint (PWM) but definitely a great ride down so far.

 

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BTW, STOPD is Special Theory of Price Discovery

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