SP - MP update

Chart1: The SP had a false breakout above the 1370.75 balance high, testing the resistance area (see Freddy's levels) before closing back in the middle of the bracket. The lower end of this range is 1325 – 1322.75.




Chart2: Update showing the longer term profile since the breakout from the 7-Day bracket on Jan 15. It looks like the market will need to develop this range more before breaking out.

SRS

Levels by Freddy

Here are the charts with levels I was watching on daily for short setup and intraday for both long and short swing trades - the daily timeframe is obviously the most important timeframe so the short play was favoured once the tail was apparent and the 80 level was rejected.

Taylor

Bonds

MP structure heading in to FOMC.
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SP 4-Day Balance / Breakout Mode

The SP has formed a 4-day balance ahead of the FOMC decision. Tuesday’s NR7 was within the balance that had already begun to form.
SRS

SP 3-Day Balance

The SP has formed a 3-day balance going into the 2-day Fed meeting.
SRS

wedge: follow-up