it came out well after Friday's close. It was expected to
be low but yeah that's really really low. I also was
wondering if it would have any effect on the our markets.
We'll know come Sunday at 6 pm, but like you said also it's
widely known that China is basically shut down too, so I'm not sure
if our market will react to it or not.
I do think Friday has a good chance to be a short term
bottom capitulation and price could start some wave B retracement.
I think even if our market sold off again it would be short
lived and then put in a tradeable low so worst I see is a sell off
Monday then maybe bottom Tuesday then we finally start some 38 -
50% wave B retracement
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it came out well after
China PMI
Posted by matt on 29th of Feb 2020 at 12:19 pm
it came out well after Friday's close. It was expected to be low but yeah that's really really low. I also was wondering if it would have any effect on the our markets. We'll know come Sunday at 6 pm, but like you said also it's widely known that China is basically shut down too, so I'm not sure if our market will react to it or not.
I do think Friday has a good chance to be a short term bottom capitulation and price could start some wave B retracement. I think even if our market sold off again it would be short lived and then put in a tradeable low so worst I see is a sell off Monday then maybe bottom Tuesday then we finally start some 38 - 50% wave B retracement