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Technical & Trade View
SP500 (emini futures contract)
Bias: Bullish Above Bearish below 3770
Technicals
Intraday 3800 is primary support
Primary pattern objective is 4125
Acceptance above 3930 next pattern confirmation
Failure below 3770 opens a test of 3730
20 Day VWAP bullish , 5 Day VWAP bullish
Notes
Goldman Sachs institutional trading desk notes that Commodity Trading Advisors (CTA’s) 'are still Buyers: Over 1 week in a flat tape = $38bn to buy/ Over 1m flat tape= $37B to buy (significant portion of this is in FTSE100). Based on our math they bought $43last week and bought 79bn in last month. We crossed back through the short-term trigger level today: 3804'
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Patrick has been involved in the financial markets for well over a decade as a self-educated professional trader and money manager. Flitting between the roles of market commentator, analyst and mentor, Patrick has improved the technical skills and psychological stance of literally hundreds of traders – coaching them to become savvy market operators!