The COMP, SPY, and DJI all found support right above the previous downtrend line in early morning trading.
This is a bullish development and halts bull hamburger production for the time being.
A sustained bounce from this level will make a V bottom, which will be very similar to the technicals witnessed in August.
Bear meat on the menu.
Nobody likes bear meat. It is tough and greasy.
That’s why the bears are winning.
Black Angus, now that’s another story.
Woody,
These pullbacks in light volume are making me feel bullish again…
-DT
DT- I was thinking the same thing.
Definitely a healthy sort of action.
I think things may be on hold until the we get more data.
MVIS volume non-existent.
It is now, officially, a roach motel.
GES unshit the shower, Shed.
It is now, officially, a roach motel.
Funniest line I’ve read today!
Shedder, looks like we are stuck in a narrow trading range between the EMA 50 and 200 on the Naz. I’m thinking the jobs number will make or break this market, it just seems the Fed hike has already been factored in.
Going to be an interesting two weeks out there.