We have major resistance around 10,800, not to mention the 200 MA @ 10,809.
Watch this level:
Joined Jan 27, 2008
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Hey, we broke throught the squiggly green line!
AXP moving up. Anything “credit-cardish” should have a bounce. Did you see SKF drop 20 bux in about 5 minutes? there’s more fear of a bounce… this is very bearish.
You top ticked it. Nice.
It’s looking good for the bulls at this point.
I’m still doing nothing.
So far all these little rallies have been in nice little ABC patterns, in EW terms.
This one is a little harder to read. I can see it challenging 10800 again, but it “feels” more like we are about to dive down.
Bulls need to stay above 10,750 to make a run. Otherwise this could end bad.
1 hour left.
Here we go.
Long AAPL @ 124
Making a few moves here, I will have an update later.
In the words of Keanu Reeves…’whoa’