I previously showed the whole trend on a Monthly,
But here we can see a 15m respecting the trend as support (Green Arrow), breaking through, then re-testing, and respecting it as resistance. (Red Arrow)
Now, there is plenty of other TA out there (Fib levels, NYSE bouncing on support, etc etc.) that could defy this, but I tend to think with the stimulus all but out, it's only bad news from here for a while. (Jobless claims, etc)
Down from here.
But here we can see a 15m respecting the trend as support (Green Arrow), breaking through, then re-testing, and respecting it as resistance. (Red Arrow)
Now, there is plenty of other TA out there (Fib levels, NYSE bouncing on support, etc etc.) that could defy this, but I tend to think with the stimulus all but out, it's only bad news from here for a while. (Jobless claims, etc)
Down from here.
Comment:
Wow, I was concerned we were going to retest higher, but a daily close under 2500 here keeps this trend alive. for now.