30/12 In the last update, I had mentioned areas to watch.2505, 2516/18 and 2528> all these provided some resistance and finally we got push back at 2526. For now, we still have the 2437 area as potential support. It would also be a perfect touch of a channel on the two hour chart and potential IHS forming there. Though, I believe that the 2446-50 area might just hold again on a continued PB . Above the 2546-62 area is still a target and above that we get to the 2590 -2630 area. Again, one step at a time.
Comment:
Here we are. In spite of the 22426 area providing resistance and the subsequent AAPL news which took us down to 2440 (close enough I had 2437 as support) we gapped up overnight on Jan 3rd and then Powell powered us through. I had mentioned the 2560 area in a December 23rd post and the 2546 to 62 area more specifically on 30/12. We got to 2540. I think on Monday we are likely to continue where we left off and potentially hit the 2560 area before a PB. I will be setting up PB levels on the 2hour char.
Comment:
I forgot to add in the update that the 2546-50 area might be an area of rejection.
Comment:
No real change. AS expected we hit the 2560 area (2566) and a re PB from there. Wheher this is another move before a push up to the 90 area remains to be seen. Alternatively, this could be more than just a shallow PB . IN that case, I would be looking for the 2498-2509 or 2480 areas.