[/caption] The right side inverted shoulder with extension would complete at 1166. The S&P500 emini has an open gap at 1156.25, if this holds and we break below 1122 then the move will be over. Initial support and the point of control will be at the 1137.50 area. If the buyers can hold we could finish the move with in the next few days. The news, although quite misleading in content is pushing for new highs. There is further resistance at 1166, then 1178.50 then 1198.50. The longer term Point of control has been breached at 1122 and the buyers are in control. S&P 500 day trading course
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