Daily is suggesting this is a retest and not a confirmed move. I suspect the B within an ABC pattern. Volume here is hinting at it.
60 min chart showing MACD momentum has largely dissipated. Also, support a retest and potential low coming up.
This is the suspected path. It has not changed since last week's low, but has undergone some modifications as we see how the segments unfold. ABC corrective on the low. I have not traded much since last Friday but will reload short in size on the C rally.
Obviously the market has finally broken though. 1000 point DOW daily swings are not normal and have the ability to crush accounts for those not nimble enough. It is the product of over leveraging becoming unhinged.
. I bought at 46 and sold at 120+, but holy Hannah...Hit over 190 this morning. Left a few profits on the table. If we get C up, I would like to see this drop a good bit and maybe try again for a final push to 250-300 if S&P drops to ~2600
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