Thoughts for Thursday 5/25

Debt ceiling chatter making market move.

Hello traders, Going into globex we had short from 84 that we held. We also 4152 as weak long as well as area to watch which turned into resistance giving a good journey down of 20+ points prior to open. At RTH open we already have 4140/42 as bull bear area which kept us on short side and gave two opportunities after open. We also had 22/32 as defined as chop area, which is the price area where market traded for almost 5 hours. After 3 pm we tried short against 22 but did not get paid. We did long against 32 which gave good quick 10 points and hit our short setup against 4140, which again quickly gave good points on short side.

Econ Tomorrow:

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