Good Morning TRADERS!
ECB delivered volatility….
SPs were expected to trade above the 45.75 trading range high as they had a price rejection spike on the downside breakout. (Trade back to the middle of the prior range, then test out the upside). This may form an A B C up into MAJOR resistance area – 1955.50. The RUS has resistance at 1100. It may poke above this low as well as it was the early leader to the upside on Thursday. The early AM UP will set up a Shorting opportunity for a retest back down. The main downside reference point will be 1945.75.
Currencies are all Sell Short Day but this move played out in the overnight session.
Have a great weekend!