some of this demand is made-up, or stimulated, but all market possess this made-up demand. It is in the design of its whales.
See how big momentum develops after proving it's exited a down trend. Big flourishes result at the lower green line. We are in midst of doing this rt now.
Once we regain high 12K, we can bounce around the upward trend as a floor, then meet a new baseline. This is hopeful, but possible.
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I would update by saying hopeful, if we can't achieve rally status at the 10.8... it will drop preciptitously, hopefully if it cant'