I see $HOOD ending its distribution cycle, thus of course entering accumulation cycle. I see a V shape recovery taking place making its way near the 18.5 level indicated by the orange line. I believe Hood is general, has found its bottom, and prepping for a recovery upwards. I will be watching to break the local downtrend in yellow, making a move out of the global down trend in blue, respecting the blue up trend to make its way towards the key level.
HOOD
HOOD
Comment:
As you all can see I was completely wrong, the important thing is to go back and understand why you were wrong. We do see our previous support become resistance, nothing new but a great example. Oh well, the risk/reward of catching a falling knife!