The S&P 500 ran up against strong resistance today within the 1098-1005 zone. We have a sell signal on the hourly chart today on our algorithm. Even though the daily and weekly are currently pointing up this resistance zone may be the area that repels momentum.
Trendchanges begin in the smaller timeframes and fractally expand into longer timeframes, so it's always important to keep all timeframes in mind when encountering support and resistance lines in order to make the most profitable trades possible.
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Regards and good luck from all of us at Strategydeskcode.com
Disclosure: short GOOG, short MDT, short F