Oh man what a great signal on yesterdays close. Classic double test from below and down it goes. So much for back to today's open. Going to take some serious cash just to get back into the opening range. Hope they save some sell off for Powell tomorrow, would hate to ruin his losing streak, Ha Ha.
More than 100% measured move down so probably there's another leg down after a rebound.
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Wrong measured move in the previous post, fixed it. Also missed the consolidation before break down pattern (red arrow) was busy on something else.
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Solid blue then red line is VWAP and the dash dot is the Mid. Makes it very clear who is in charge through Friday. You know Powell will stay on script tomorrow so no big moves while we wait for the New York banks to put all the options premium in their pocket while unloading the mandated 10% underlying hedged positions. Next week when I am on the road will be the big moves.
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