Quote from apex82:
Alright, just finishing up some of my analysis before I hit the sack. Employment days use to be my most profitable days but lately I havent been doing so well on them. Anyways... I put in some more work and have narrowed it down to 2 main resistance zones. I am expecting this leg up to be a wave B of a higher degree and would expect at minimum a retest of the lows. The odds of this thing just blowing right up to the highs again is in the vicinity of 15%... low odds but always possible.
There is quite a few resistance areas so it was hard to narrow it down to such small zones. However, these are the zones I am watching for tomorrow.
1426-1428
1435-1437
The second one I like a little better due to the market being so close to the first one and I think it would be a nice scenario for them(the market) to run the stops above that recent major pivot high knocking out all swing and position traders and run it right up to the next zone. However, the first zone is extremely strong and very critical. It could easily just turn at that level. Watch for a 5 or 15min breakout reversal bar to show confirmation. The odds are that this B leg rally will end either tomorrow or monday.
Keep an eye on the 1430-1431.50 area as well.
-Apex
