NAS100 Monday Morning flush? If So? Good,Supports Are Just Below
4-4 Monday Morning Flush?
If so? Good as there are multiple supports
just below and any one of them can act as
the one the markets react off of. So at the least
watch those levels for stabilization.
Notice what is sitting at the blue support lines?
Key Fibonacci retracement zones of the 38.2% and 50%
So for now call those levels multiple zones of support in the event
the market wants to look at them. Not only that?
Those zones are opportunities should they get tagged.
Notice the 200 day ave. isn't that far away either?
Notice the RS is much closer to oversold territory
than overbought territory? This is how the markets
talk to us chartists folks. Now this all said?
does that mean we are going there? NOPE. NOBODY
knows. But we don't need to. Sometimes knowing
what to watch for is all you need to know.
If so? Good as there are multiple supports
just below and any one of them can act as
the one the markets react off of. So at the least
watch those levels for stabilization.
Notice what is sitting at the blue support lines?
Key Fibonacci retracement zones of the 38.2% and 50%
So for now call those levels multiple zones of support in the event
the market wants to look at them. Not only that?
Those zones are opportunities should they get tagged.
Notice the 200 day ave. isn't that far away either?
Notice the RS is much closer to oversold territory
than overbought territory? This is how the markets
talk to us chartists folks. Now this all said?
does that mean we are going there? NOPE. NOBODY
knows. But we don't need to. Sometimes knowing
what to watch for is all you need to know.