Roller coaster day today. We opened in the morning with a gap down, pushed a little lower and recovered by EOD. 20 day as was my anticipated target for today and we are now basing in in this general area. Cup and Handle pattern looks like it's forming, especially if we hang out here tomorrow and Friday. Might just be tomorrow and then Friday could set the tone for next week and possibly the month. Important to be aware that in the event we move higher than 3850ish, it will invalidate the cup and handle pattern I'm waiting for. If we blow past 3850 and continue higher, I'll have to reassess the market in the coming days before I take any short positions. We are still in a bear market so these rallies can have aggressive upwards movement. Tomorrow we could visit the 3850 area and need to monitor the reaction if it gets there. Will have to sit on my hands to see what happens. Remember, don't predict. React. Be patient. Happy trading!
