Still looking for that 15 minutes of crazy capitulation and volume but at these levels we've got a .618 retrace back to the 200 day moving average. Currently a smidge away from a .786 retrace of the entire post pandemic run and already back to prepandemic levels.
A halt to the Ukraine conflict could easily put this thing back in the high 50s. Again... wars are expensive and can't last forever.
I like this.. a temporary reversal before we see lower lows
slavrenz
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Wars can't last forever, but they can last for years...this is a drop in the bucket compared to past conflicts. I think your call on bounce is right, but it's a bear market rally, not a recovery. That's 6-12 months away, minimum
chinawildman
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@slavrenz, I don't disagree, there are many more dysfunctional issues w/ the financial system right now that don't require a war to rear their head