Good evening everyone. I am taking a look at the daily right now and noticing that we nosedived today towards the bottom of the cloud. I would have been happier if we would have just bottomed out outside of the confines of the cloud but alas... It wasnt meant to be. So here we are stuck inside the cloud for 24 days now or something. WTF? This is one reason I use the cloud often and this is also another example of how the default settings for the cloud work well in my opinion. Once we fell below the 50 MA a few days ago I was starting to feel like we might not break up as I expected. So here we are at 8200 and if we cant escape this cloud we will have to go up to 8800 in 3 days or we will exit the cloud. I suspect we will eventually but WTFDIK right? RSI
is getting more and more bullish
the farther we fall and if you look at the 4hr RSI
it is pretty bullish
so there is some positive news for you lazy bulls. We have 8500 above us which is the .618 fib and the 50 MA which are pretty much merged. Below us is the .786 fib at 8k. The bottom of the cloud is at 7900. Bolinger bands got wider today but I suspect they should tighten back up rather quickly. Daily volume
is at $21,568,850,537 which means it went up. F the bears.