All indicators say that the market is over sold. Now I realize that when it has moved down this much that will be the case. But, it continues to move down. So is this just fundamentals overtaking the technicals. Or am I just looking at the wrong technicals?
While I have no opinions about market direction...this seems to be a valid point as the selling seems 'controlled' and has prevented me from getting many trades the last few days...been a little different from the norm.. Keep us posted...thanks NiN
Added at 71.5. Avg is ~73. Stop same. Will add at 69.5 and 67.5 if we get there. May be drinking water instead of mojitos if the bears get me. Target is 80
It seems like we are upside down now from ES June at 1276.25. With this deep a penetration, hard to see how that does not act as major resistance today.