Posted by DigiNomad on 11th of Aug 2023 at 02:39 pm
I think the market wants to go lower, but, once a channel is
firmly established, it's really hard to exceed the channel in the
direction of the channel. Draw a channel on the current pullback
and you'll see a great example of this in the current action.
Probably need a bounce (maybe B) to set up another leg lower.
That next leg lower might be C....or maybe it will play out with
something more bearish. We'll see. Still lots of Gov debt sloshing
around in the system.
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Nice SPY short, does it
Posted by steveo on 11th of Aug 2023 at 01:51 pm
Nice SPY short, does it find support on that lower line?
We'll find out in about
Posted by fredsaid on 11th of Aug 2023 at 01:59 pm
We'll find out in about 1 minute... I think it's high time for it to roll over but maybe we get 2PM bounce like yesterday.
The simple notion that I
Posted by shellson2 on 11th of Aug 2023 at 02:01 pm
The simple notion that I want a drop, means we bounce, and probably in a meaningful way...
I think the market wants
Posted by DigiNomad on 11th of Aug 2023 at 02:39 pm
I think the market wants to go lower, but, once a channel is firmly established, it's really hard to exceed the channel in the direction of the channel. Draw a channel on the current pullback and you'll see a great example of this in the current action. Probably need a bounce (maybe B) to set up another leg lower. That next leg lower might be C....or maybe it will play out with something more bearish. We'll see. Still lots of Gov debt sloshing around in the system.