Regarding The SP Top Notch said:
The s&p did continue its slide after the early update. When this future found a low of 1331.50 mentioned earlier, it topped out at the 1334.20 price. The next move found new lows at the 1327.00 price. However, the bounce saw a high of 1331.50, which failed that first low of 1331.50. Very interesting. Key turn price?? When the lows were retested, stops triggered a flurry downward to its current low of 1323.20. Now this future has caught its breath and it needs to see how it reacts to that 1327.00 price. Any positive momentum will then turn the 1331.50 price, followed by an objective of 1334.20. Key to the whole day and that price is not an impossibility to be seen. Further erosion will take a ride and test the 1319.50-1320.00 area.
Market was at 1.324 when i got the update.
From here Top Notch says, if the market gets up it will go test the 1.331 level, at the downside it will test 1.319-1.320 levels.
After some consolidation market trades down so i open a short position at the spx trying to earn 4 handles:
The market continues its downtrend momentum and reach the predicted values of 1.320.
Top Notch is one of Mrtopstep contributors.
Mr Topstep traders at the CME Floor
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