Damn busted The rejection of the lows of the day on the 50EMA was almost as violent as the rejection of the highs at the fib pullback level so who knows what tomorrow brings? I would expect more buying given the impressive bounce off of the 50EMA but there are obviously sellers happy to step in on every rally. It's a day traders' market.
no doubt its gonna be choppy. 2 things htough,if the consumer starts showing weakness and the wage inflation numbers elevate,its gonna get ugly.
second. trend is your friend... up or down i dont mind as long as im the right side anything but a sideways market.
The problem is that people are disputing whether the trend is up or down...it like saying that I buy stocks that go up.