I think the US stock market has reached a bottom here, likely to revisit recent highs, if still ranging -which is likely-, but very high odds it doesn't break today's low for the time being. I'd rate it at 90% odds. I'm risking a safe amount going long, entered at 2618.3, stop at 2583.5. Let's see how this pans out over the next few days and weeks.
Cheers,
Ivan Labrie.
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Acting strong, I'd like to see prices retest the 'EIP' level in this chart:
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Trade closed: stop reached
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#SPY's Range Movement line dropped half what it dropped when it last bottomed back in 2016, it also took like 206 calendar days to reach the bottom back then, long way to go possiby: