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the rebound looks good, now facing a little resistance.
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ok, here's what I see, although I still cannot exclude the possibilities that we'll see a reversal of reversal of reversal of reversal today because nowadays bulls are simply full of surprises. just I see the volume for the rebound is, well, pathetic, doesn't look like something strong. Guess, we'll have to wait and see.
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Going forward, if we close above the open today, we should gap up open tomorrow and go. Today should have been a down day in the market and we have now tested the 1330-1332 area 4-5 times on the S&P...this is similar to the bottom in November of 2010.
So if we open up tomorrow, it should make for a great swing trade going forward. A down open tomorrow likely means we are headed much lower.
ok, just a guess, no evidences, judging from QQQ, the rebound looks like a Bear Flag, so if QQQ rebound fails it'd put pressure on SPY.
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indeed a pullback, like my timing, by the way? anyway, i cannot say the chart doesn't look bearish anymore, but we need see the next few bars, critical time, I shall say.
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No buying divergence this morning tells me this rally will be sold, lower RSI at the very opening, love TA. I didn't know it will sold off right away in the same day like this. this is not good Bulls.
My comments are for entertainment/educational purpose only. NOT a trade advice.
should be a rebound of some kind here. a rebound could be weak, lower odds it'd be very strong but you never know though.
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