S&P500 today's high 1080.78. It's getting closer and closer to our resistance targets 1085, 1090 and 50 days moving average 1097. I believe the market will take a breather before heading to our higher resistance targets. S&P 1085 is way too close to today's closing price, if I am going to set a limit order, I will short this market at 1090 and 1097. And if tomorrow's market can go up to 1097, it will over extend itself in a short period of time. The risk reward ratio will favor the bear.
The market need to digest some of the recent gain before the next mission. Be ready for a pull back in next few days. Just pay attention on the above resistances I mention above, set your stop loss and have a nice sail.
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