Nice trading day this Thursday, we gapped up and had a day up that closed with 0.5% gains.
As mentioned earlier today, that gap up and yesterday break above the TD trendline suggest that we have higher targets above that could potentially reach ATH for a double top….
But to make things more unpredictable, we have completed a sell setup TD countdown on daily chart. Today we traded above and closed a gap at 2468 cash – bar no. 8 of same countdown (wich is a good sign for bears).
Right above that level we also had TDST resistance and target (magnet of the day) 2472 projection price….
I still favor the bearish case as the weekly chart is still in a bearish buy setup ( bar no. 4) suggesting that next week (bar no.5) will close below 2441 SP cash.
Tomorrow before session open we have important US employment data that should give us some good volatility… 😉
The typical pattern for tomorrow is an early high and a late low.
I think we will start with dropping to target @ 2466 then try to retest 2472 but fail and dive into closing bell to close the gap down @ 2457 cash… See you tomorrow… GN!… ;o