still defending the previous low but I'm not optimistic about bulls here as the selling appears broad based. Close right here today, then chances are good that there'd be more pullback ahead. so bulls need a sharp rebound somewhere before the close.
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Cobra wrote:still defending the previous low but I'm not optimistic about bulls here as the selling appears broad based. Close right here today, then chances are good that there'd be more pullback ahead. so bulls need a sharp rebound somewhere before the close.
We are at exactly 50% fib fan support, if Bulls managed to break up 135 spy. there is hope of side ways to up from here. trding under 134.67 bears are marching on.
My comments are for entertainment/educational purpose only. NOT a trade advice.
if we get the usual reversion to the mean bot trade my calculations will put us at a /es 1344 close. doesn't feel that way but ema 10/20 on the 5min just flattened and have become support.
a little trend line resistance here. let's see. bulls don't want to see the retest of the day low because if so chances are high that low won't hold anymore.
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cletus wrote:There is no question the market will rebound from here. The Fed has told you exactly where it was taking this pullback and where it will rebound to.
Cletus,
Can you elaborate with targets for the slow guys like me. Also, Vix seems weak for the selloff today.
cletus wrote:There is no question the market will rebound from here. The Fed has told you exactly where it was taking this pullback and where it will rebound to.
cletus,
as you suggested last week i held tight to my shorts, and today see the laight again!!
unloaded half of my position and waiting for the rest.... where do you see the bounce ??
thanks