A lower low was made today at 2528 and the lack of conviction in today's bounce shows there is more room for downside. If this level is lost, we could see a sell-off like we haven't seen in many years during Christmas week. I guess not even Santa is saving the market this time.
Short Term Trend = Bearish
Medium Term Trend = Bearish
Long Term Trend = Bearish
* Trends are not trade signals. Trends are posted for situational awareness only and does not take into account wave counts, technical or fundamental conditions of the market. While mechanically trading the posted trends is feasible, keep in mind that these are lagging indicators and as such are prone to whipsaws and I personally do not use nor recommend them to initiate or close positions in the market without taking
No comments:
Post a Comment