Since it already bounced off the trendline at 983, I was feeling damn sure the trendline would break should we retest it again. With that in mind, I went to the bathroom to take care of the usual business. Well, how more serious can I get than this?
Nice trading day; I caught most of that drop from the 1060 region to the mid 1020s. Too bad I didn't take it further down. Love Pekelo's consecutive gap rule. Thanks for the alert! Is today considered an SDD?
Sorry for the confusion. 970 was meant as the low of today's range. Earlier in the day, however, I did have this to say:
940 - 950 zone looking good for a low risk, high-reward long tomorrow AM. 100+ point target if we bounce from there... 1120-1140 final target before we slide off into the abyss again.
No. Tuesday was a doji basicly, just consolidation after a very big rally. But probably we will put in a 2nd bottom first. I agree with Tommymoose's view: