6/5/2015 - turning points on S&P 500 post NFP
NFP has been released with a stronger reaction in both bonds and forex markets. For the majority of the week the trend has continued to be downward on the 4hr time frame. Looking lower, at the 1hr timeframe, new decent supply zones have formed within this latest down swing. Post NFP, the low barely breached a demand zone near the 2088 level - perhaps paving a move lower. Three levels are shown where price may reverse for a continued move lower.
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