21/1

Today's Call & Briefing:
No Headline Call today and No Live Updates.

Still looking for support to come in on the new tested lows we got on Thursday at the 1174.75 stop/pivot off the Buy Pivot target.

We are trading overnight at the 1177 area support still and today will be pivotal in seeing if we hold support and move higher or there is some further downside testing.

The new Buy Mode we entered on Tuesday got snaked on the close on Wednesday due to earnings supposedly and we have had another washout test of 1177 moving just about 3 points below that. If this holds now (expected) then we should be on our way back up above 1183 (important bias pivot) and up again.

If not, then we will be moving down near 1164 and then 1155 on a hard squash lower move soon.

So far it appears that we will hold support after just a bit more downside pressure on that 1174 area. Then the upside should resume again.

Value Area: 1,177.00 - 1,182.80
Watch the now famous 1177 number to see if prices can hold above that in today's Value Area.

Buy Pivot Target: 1,172.50 - 1,173.50
Watch for this zone to hold today. 1168.25 is the stop/pivot and would expect to hold.

Sell Pivot Target: 1,181.50 - 1,180.50
This area struggled on Thursday. Let's see how it pans out on today's Option Expirations.

10 Day "Pit Bull" Moving Average: 1,185.50
Can we climb back up above the Pit Bull? They tried on Thursday but there are still too many "casual bulls" assuming we are headed higher.

Did Thursday's action make em nervous? A little bit more. Probably just a bit more lower testing near 1172.00

"Mohan"

Mvh mouseman