I think we rally today even if there's a pullback first in the morning. The larger structure has held overnight and the doom and gloom rumors of the weekend will probably shake off quickly. 3770 should be a good target - high enough to convince bears to cover shorts and high enough to give bulls some confidence to go long. After that I'm not sure, so I have two paths I'm watching. If they can break 3800, a test of 4k is possible (green path) If not, a lower low again at the structural trendline is possible (yellow path). Good luck!
Kommentera:
if a pullback 3600ish should be support
Kommentera:
support area reached, let's see if it's a bear trap this time.
Kommentera:
So far support has held
Kommentera:
Downtrend broken on futures, would like to see that hold as well now.
Kommentera:
SPY is stretched and showing 3 waves only. If we stall at 370 we may have one more low coming this week. The slow move up is concerning to me FWIW. I took some profits in case.
