Opinions welcome on this one.
Comment:
I feel like this deserves more attention. I didn't give a whole lot of explanation because i felt it was obvious. Its naive to think the stocks would return to the ATH after that drastic of a selloff after many retests of the top resistance. As many elliot wave analysts are saying this movement is a 4rth wave movement since our last recession and so we may expect a 5th wave retrace (not to expect an ATH) before the final plunge. We hit resistance at the 50 day MA and may be returning downward. Its important to know that if we have similar volume as from the 31st of jul (after the fed rate cut) I believe we can expect to hit 2630 area however if slower then i will expect 2750 bounce. we had support at 2900 which seems to be behind us now. Stay safe and remember to do your own research.