Think 200MA will be the bottom of this correction, -Strong reversal on Friday, forming a big bullish hammer candle -US10YR touched the roof of its channel with a bearish long hammer candle (fear of a rising inflation triggered its rise and the stock market correction) -The 200MA support was respected -In this correction, green days' volume was higher than the red ones -Bullish long candle tails -Market is oversold right now
However, Don't think we'll see new highs this week, -I feel the market still nervous -Don't think volatility is over .Think this correction will be like the one two years ago, retesting support
If the bounce continues, will be watching: Bearish reversal candles US10YR Wednesday subjacent inflation report 2664-2704 levels for selling in case of a support retest is coming 2837-2853 next gap resistance
Relax, a lot of bears are calling the end of the world. This is normal and healthy for a wonderful bull market like this one.
Remember to trade with your mind and not your stomach.