I present the intraday chart for the small cap ETF to illustrate the potential short-term bottoming formation we have seen shape up this morning.
If bulls can take price over $105.30 I think there is a decent chance for a relief rally early this week. Ultimately, though, I expect it to fail and give way to another leg lower.
For now, shorts should be careful pressing here, and longs should not plan on overstaying their welcome.
A move under $104.25-$104.50 would begin to negate the bull case here and likely lead to a washout lower.
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very reasonable analysis as always. how you doing YTD chess?
Quite well, thanks.
can someone explain the picture
I don’t get it
Frog- Men who have been drinking can comfortably brace their heads against the wall while using the urinal.
Then, there was the ’80s club in South Beach that strategically placed gynecological shots from men’s magazines behind glass on the wall for viewing at that time.
Quite a sense of humor there…
Well said, Greg