Everything from 5min to daily looks bullish to me. Multi-day and higher are down, but there is further room to pull back (maybe to the 2640 area) and in any case I'll wait for a reversal pattern before taking any swing shorts. Imo we don't see a reversal pattern yet, just normal consolidation of an uptrend.
Had to take him off ignore to see what you were referring to. I am on his ignore list and he is on mine. So you will probably have to copy and paste.
Run to The Iron Horse has commenced for the afternoon, but I think the sustained move will be overnight and tomorrow---
I believe that we will close at around 2598-2599 today on cash. ---Then tomorrow make a large move higher. (We are currently at 2588 with 1:04 to go).
I stand by this prediction. Indeed I believe that the selling is not over but won't happen again in earnest for a while.
2585 has again shown itself to be the line in the sand for us. The establishment of it as new floor continues in a big way. ---It's starting to make me forget about the importance of 2530.
Off by quite a bit on this prediction. Only thing that is certain is that 2585 is extremely important as we danced around it all day. I like the closing though on the daily chart despite the big rolling top on intraday charts. I look for some further back and fill and then a thrust higher overnight or preferably after RTH opening tomorrow. ---I could be wrong on my read of this as a new floor and perhaps it's a new ceiling. ----However, I don't believe that at the moment.
Looks like we still have the downtrend line residing at about 2700. Plenty of room to rally to the trend line and overshoot as well.
I did a few tests on some of my data and this multi day sideway pattern is more bullish than I imagined it to be. Generally, it seems to set up more up side in the days to come. Should be interesting to see tomorrow, but if RTH open near or above today's Close (81,25), I'd be careful to sell...
FWIW, that late day selling bounced right off the rising wedge support line. I lightened up some of my 88 short at 78 and have my stop in should it break out to the upside. If it breaks down, I still believe it will move hard and hopefully give me op to add.