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S&P500 CFDs Day Trading Strategies

S&P500 CFD: 1238
TradingLevels
: Well the rally sure did come in quick based of US housing data, the current price 1235 is at the 50% retracement level of the Dec 9 drop, it can fail from here, but we should expect a little more upside to 1250, however, support must be found on top of SG1 1230 before 1250 can be viewed. Another point is that all the supply (sellers) start above 1230 so what you have seen over night is not what you’re going to get now, if the market is going to move up it will creep and short trades can be looked for soon
 Wave count: Working the two structures still until the medium pattern becomes clear, the move up can be a corrective rally or wave 1 of a larger five wave structure, so keep all day trading in the sublevels
Trading Strategies: expecting a move down to 1230 as wave four then a push higher for wave five, the resistance is 1250 these are sublevels, there are MicroLevels if your day trading.
S&P500 CFDs Day Trading Strategies

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