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Bears Load Up Again
Today's price action was bearish in that selling accelerated into the close with rising volume...note the engulfing candle!
The wave 2 corrective retracement has hit our 0.786 almost exactly.
Either today was the bulls best opportunity to exit at the highest prices or a low probability of one more minor rally to complete. The days selling candle has touched the red line to which may signal a support bounce or another red day will usher in heavier selling to signal a wave 3 down event.
Odds are rising of a full-blown crash probability into 2022..perhaps early in the new year onwards.
Whatever catalyst is blamed, it is technically telling us before the "news"...however moronic.
So wave 2 up has likely completed today and a wave 3 down can obliterate the entire Santa rally very swiftly.
Appreciate a thumbs up...Good Trading!
The wave 2 corrective retracement has hit our 0.786 almost exactly.
Either today was the bulls best opportunity to exit at the highest prices or a low probability of one more minor rally to complete. The days selling candle has touched the red line to which may signal a support bounce or another red day will usher in heavier selling to signal a wave 3 down event.
Odds are rising of a full-blown crash probability into 2022..perhaps early in the new year onwards.
Whatever catalyst is blamed, it is technically telling us before the "news"...however moronic.
So wave 2 up has likely completed today and a wave 3 down can obliterate the entire Santa rally very swiftly.
Appreciate a thumbs up...Good Trading!
Nota
The Fed has goosed the market for a little longer.We turn neutral as further gains are likely for a while.
Good trading!
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.