The SP 500 broke the 1101 support area. There had been several previous tests of this area. When you are monitoring a support or resistance area you can usually find a counter trend play on the first, possiblly second test. After that you want to be aware of other market conditions that may lead to a break of that area.

If we use the “what once was support is now resistance and what was once resistance is now support theory”, the breaks of these areas can lead to trading opportunties. Today we will be watching for a shorting opportunity on a test at or near the 1101 area.
Have a great trading day.
Leslie
www.tradingliveonline.com

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