I think the downtrend is done for a while regardless of how this closes today. The rsi needs to reset and a weak bounce for a few weeks would make sense. 4450 area would be an ideal bounce target, but the RSI will tell us when it's time to short again.
Good luck!
Good luck!
Kommentera:
Target area reached (18 ma weekly) overnight. If they can't rally here, then the 18ma will become resistance on the way back up when it happens.
Kommentera:
ok so it bounced but it's still in this downward channel. Needs to break out of that.
Kommentera:
IWM outperforming. Even if there is one more low I think the bounce comes next week. Similar head and shoulders pattern forming here.
Kommentera:
channel test again, nothing has broken out yet. Hard to say how Monday is going to look.
Kommentera:
still no break at close
