As bad as sell-off has seemed last few days, 3D is yet to break 14 SMA, which to me is bearish signal. That could change quickly though.
How I see patter developing:
Test of 3860 overnight is likely. If bulls are able to take it to 3885 or higher, we might see another reversal next week. If 3820 breaks, 3770 comes quickly.
We are still in uptrend with no other avenues for money to go, so you have to be nimble with your shorts and try not to overstay. They will try to spike it one more time..if it fails, we see much lower levels...as low as 3650...it is possible. Keep an open mind.
How I see patter developing:
Test of 3860 overnight is likely. If bulls are able to take it to 3885 or higher, we might see another reversal next week. If 3820 breaks, 3770 comes quickly.
We are still in uptrend with no other avenues for money to go, so you have to be nimble with your shorts and try not to overstay. They will try to spike it one more time..if it fails, we see much lower levels...as low as 3650...it is possible. Keep an open mind.
Comment:
This projection held up to the dot. Now, 3770 awaits. 3840 is the new pivot for me. If it fails tomorrow, 3770 is easy.