It looks like they are having one heck of a time getting a bounce-able bottom in place, but the divergences are building, just understand that if we get a closing ramp or more likely a gap up in the a.m. by manipulating the overnight, thin volume futures market, this is psychological warfare, they want to knock these new shorts off the move, just keep referring to the longer term charts and look at any bounces as gifts that allow you to get good, low risk, high probability positioning.
The chance of a waterfall breakdown still exists higher than ever now, margin calls will be rolling in, longs will be scared, the F_O_M_C minutes proved to be everything I thought they'd be and more.
5 years ago
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