Seems like levels are close to the halfway mark in the Fib retracement. We're looking at a 27% rally from the low. Not sure why the rally has lasted this long and been so strong, it could be from a short squeeze...who knows. It has to end soon I would imagine.
We are heading into earnings with bad news ahead of us plus more bad economic news, so I anticipate the move down is coming soon. I just can't believe the market has completely priced everything in yet. Prove me wrong.
We are heading into earnings with bad news ahead of us plus more bad economic news, so I anticipate the move down is coming soon. I just can't believe the market has completely priced everything in yet. Prove me wrong.
Trade active:
Reached a major resistance area at 2880. If that is broken next week, we could see 3090 next. However, if the bears prevail, that slide downward is coming and 2640 would be the level to watch.