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Let's see whether bears can make a nested double top here which I doubt as always.
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Hot CPI number, with this panic level on $CPC there will be a good bounce, if not, the majority of the put buying will be right. RARE, over all,
it's a fearful market.
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If Da Bulls can't turn this around we could end up with a really ugly bearish engulfing candle on the daily chart that every amature technician (like myself) will be staring at all year.
Testing day low, 50% chances of double bottom here.
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Something triggered an algo for a fast 10 point drop. We now have that really ugly bearish engulfing daily, waiting to see how long until they bring it back up to neutral.
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I had to move magenta 1 up a little and (ii) just a touch but this has been sitting pretty much as is for a day or two. Will see what happens once we hit the 4,800 level.
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