I think it's pretty clear we broke the trendline that started back in March 2020 when the FED created the CPFF and MMLF and announced its support for covid. Also notice how during the trend even when we've broken down below the 50d we saw a quick pop and rally which hasn't happened the past week. If we don't get a strong bounce soon I'm guessing we'll test the 200d and if that doesn't hold we see 3900 soon. Long term (could be short term) I think we trade back within the channel that started with the BCA in 2011.
Btw I've been bearish (wrong) since February and this will probably be dead wrong! Good luck everyone
Btw I've been bearish (wrong) since February and this will probably be dead wrong! Good luck everyone