SP500 found a temp bottom?
Regression is now , so overall, my bias is slightly more than . Having said that, we just crossed into territory and it wouldn't take much for it to turn again. For Monday, I'm a buyer above Friday's point of control at 2380, and a seller below. I might consider a long at 2372 as well, but only if there is decent momentum...and of course I'd have to watch price until it clearly smashes above 2380 again.
A break of 2365 to the downside would be very for me. To the upside, we have the round 2400 level as first key resistance. Whatever happens, I have a feeling 2380 will be retested a couple of times before it really makes up its mind. A clean break of the 2370 to 2390 range will probably dictate the medium term trend.
Anyway, I trade of 1min charts and will simply go long above 2380 and short below...using the regression as confirmation. Should price have already taken off a bit in the overnight session, I will use retests of the as "2nd chance" entries throughout the day should momentum be strong.