It's a very jittery times. But why do I get the feeling that we might not get the bounce that everyone anticipates, myself included?
b/e I was hoping to see more of a BO, hence no scale out when it was possible. It stopped within 2 points of next resistance level, I wanted to scale out there.
L895.5, s~1.5, h/s-10 1m still just about bullish bouncable Scaled out 2/3 +4.75 at next resistance, no prisoners taken this time stop marked to b/e Daily chart's histo points to possible bounce in the face of weekly & monthly charts' bearishness, histo pattern hasn't completed as yet, but looks likely to do so considering that the indexes have suffered enough up to now, OK, what is enough? Who knows? But all I know is that whenever price declines, even if dramatically, & histo starts reverting and by doing so suggests that conditions have a chance of changing from one intermediate phase to another it is OK to start looking for an intermediate bottom. Some will refer to knife catching as amateurish trading, not going to argue about that one. To each his own, I am OK with being classed as a piker
Keeping an eye on 3m MACD & its histo very closely, watching every possible 1m possibility, as there might be a possible triple D on 3m. That's 3 times I said possible LOL
If 965/969 can hold, markets will bounce; weak support @ 873 Good support zone 965/973 If it cannot hold then 837/841 is next support