Any breach below these numbers will weaken this rally.
Furthermore, the golden cross is happening today for the S&P, thus a breach below the 1180 signals a very weak golden cross.
The market is holding up well, considering this is option expiration day.
I am watching the 1180 level very closely. If it breaks below, I am taking more profits on my winning stocks.
I might consider some shorts too towards the end of the market.
The S&P really doesnt want to break below the 1180 level. Every drop was immediatel bought into by some funds.
However, we can also see many people selling at 1182. The range is so tight and this is really the battle between the bulls and the bears.
TEPPER traders vs dumbfounded traders.
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