3720/25 is a key zone to hold for the bulls - both intraday and on a weekly basis. That prior 30 minute bar wasn't pretty, so should really find a bid here if this should hold up.
Stopped for 3 points. Good entry, but it was only a weak bounce. Interesting reversal. I'm wondering if this could reverse even lower. Still looking for a long here, but the weekly cycle looks a bit broken for the bulls if we go much lower here. Let's see where the next 5 or 10 minutes closes.
Ready to scratch this quickly if no strong pop. If this level doesn't hold, well. Doesn't look pretty.
That's twice in a row. - 3. @Master Pu stopped praying. Need to re-asess a bit here. Still not convinced on the short side, so need to check what my statistical model says for this.
Not very bullish. Outside Day potential. I'm a late short here, but will not post it as it's a hazzle to keep up here. I'm always worried that the market will find a bid any minute, but this isn't looking pretty. Possible major reversal coming up here.
If this rolls over here, I would guess 3650 today. Lots of air below from Monday's big ass gap up. But needs to break the LOD first, so no need to get ahead of ourselves.
What's interesting to me is that the gap on Monday at 3615 is the only one lower and there are a shit ton of gaps up much higher.
For the gap value I use the cash close @ 04:00. So, last Friday's Close / gap is 3599,25. Tricky spot here, IMO. Not my best trading session. I'm prepared to stop out my late short for a loss if we trade much above 3700 from here. Ideally, we tank now. There's plenty of potential support below, but I'm not sure it's going to hold. This is after all a bear market.