Indicators show it's headed straight back to oversold again. Looks like it's gonna whipsaw sideways with maybe a slight downtrend.
I thought it was gonna do an A-B-C type pattern and go up today. The fact that it went straight down after the oversold bounce is VERY BEARISH. I did mention Monday that volume was low on the bounce.
I guess I'm more inclined to short when overbought than buying the dip.
I thought it was gonna do an A-B-C type pattern and go up today. The fact that it went straight down after the oversold bounce is VERY BEARISH. I did mention Monday that volume was low on the bounce.
I guess I'm more inclined to short when overbought than buying the dip.