Found support at 3230; you're right on next S is around 3150, then 3050: IMO the bearishness grows weary and sellers exhausting, falling wedges pop
max_well12
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You have so clear ideas.
Tulip06
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You have so clear ideas
DaddySawbucks
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unfilled gap at 3380; DJI broke 500 pips from 27650; see if these gaps fill on Weds to provoke next and perhaps last? leg down
PolarHusk
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You're doing great
z3m25
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I'm not saying momentum is down, but there are signs that we are either half way to the bottom or we've seen them for the short term.
Chart #1 is my most reliable source for determining a bottom or top.
tradingview.com/chart/KhZdp6Cb/
z3m25
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@z3m25, We also bounced off the 3234 mark which is strong support back to December of 19'
We are in oversold territory.
Divergence is well below 50.
MACD is at 0 for the first time since Feb.
The Stochastic RSI has hit a double bottom below the critical mark.
Again, I don't disagree that momentum is king and that momentum has been down for almost a month, but finding a bottom is determining when that momentum has run out of steam.
Look at the buying volume on close yesterday. 1 minute chart.
Even if only a 1-2 week rise, I think we go sideways to up for a bit before we keep heading towards 1,750.
@z3m25, And I didn't catch the vix on this spike, but I'll be getting in when we near my target assuming your chart shows we're near support at that time.