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Mr Bachnut, thank you. Always look for your posts. Unfortunately, agree. It has been a while since we have been at risk for a high volatility event, the risk for that is here. Hope it does not happen.Mr. BachNut wrote: ↑Fri Oct 20, 2023 10:57 am Mr. B reporting in...
The NYMO cycle is down.
The last up cycle was only good enough for a corrective move to the middle keltner band, which held as resistance. Not good.
The 200 MA is on deck, and the month low lurks a little below it.
Bulls should mount a defense in this neighborhood.
If they don't, things are very bad.
Even if we get a bounce around the 200 MA, if that test fails, price will be open to proceed to those open gaps below.
So, next week and month end could be a critical time.
I am still short. My long hedge was profit stopped (small) during the bounce.
I never got a long swing signal.
I am just sitting tight and doing nothing for now but will pay attention as the 200 MA gets tagged.
NYMO 102023.jpg