Posted by DigiNomad on 16th of Aug 2023 at 01:26 pm
SPX bounced off downtrend channel to the penny....so far. If
that holds in the short term, it doesn't suggest to me that we're
in for a rip your face off rally. Market just needs to back away
from the trendline again to give it some room to resume downtrend
(or not)...like happened when we touched the bottom of the channel
on 11 August.
SPX bounced off downtrend channel
SPX - I show the bottom of this downtrend channel ...
Posted by DigiNomad on 16th of Aug 2023 at 01:26 pm
SPX bounced off downtrend channel to the penny....so far. If that holds in the short term, it doesn't suggest to me that we're in for a rip your face off rally. Market just needs to back away from the trendline again to give it some room to resume downtrend (or not)...like happened when we touched the bottom of the channel on 11 August.
yep so far bounce is
Posted by srusso1 on 16th of Aug 2023 at 01:28 pm
yep so far bounce is weak at best