The S&P ran into the monthly R1 pivot(green line marked R1) this week at 1033 and cannot close over it. Now were getting a small sell off that should take us back down to 1000- 1005 and fill the open gap(blue arrow) there.
Traders in my trading room have been shorting the monthly r1 pivot.
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1) Protect your capital 2) see rule #1 3) don't trade what you think, just trade what the charts say 4) use stops on all orders 5) never let a winner turn into a loser 6) never buy R2 7) never short S2 8) 3 losing trades in a row= strike 3.......shut down the computer for the day. Something is wrong in my head!
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