probably near the range low now, I don't think it'd be downtrend day today but if sharp down in the next few bars with good looking bear bar then be careful.
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for investors, MACD on HYG is important if this breakout will sustain or not, right now it's questionable until MACD crossed positive on HYG then bulls can breath better.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
here's the bear's last chance to make it downtrend day. I still think it's just a range day and now we've already had the range low.
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Spike down on economic news into a channel. Interesting part is so far 70 on the ES is the bottom and 75 pretty much the top. A major and a minor level for options.
Real question is how many Billions are Cook and friends going to spend before Jan 1 in pursuit of bonus pool based on stock price? Fed/Central banker liquidity pump is keeping Treasury from totally crowding them out but the big deal is the Treasuries massive cash raise was supposed to end in January. With Softbank exploding unicorn funding is getting ugly so I think market really needs Cook and friends to step up in January and grab the liquidity for the market.