Emini S&P500 Consolidation Below Support Suggests Continuation Jul 9, 2015

By Lawrence

Mid-day update: S&P consolidating at the low of 2nd quarter 2015 on daily basis implies continuation to the downside is more likely.

Follow chart of SPY illustrates the point clearly.

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Close up view of Emini S&P 15-min chart shows channel mid is still in force.

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Today another great call worked out in the morning. From confirmed setup down to R1 at 2055 is a 10+ points swing, that’s $500+ per contract.

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