However, it looks remarkably like the sentiment prior to March 5th which was DOWN! And a s/t low!
Then Tuesday began a week long bounce when the sentiment fell even further Monday night.
A lower close tomorrow will violate the SPX's 50ma.
And I suppose the bears will wet their pants then. (Yes, Smokey wears pants!)
There is some horizontal support at just below 1475 which is also near a 38% retrace from the March low.
I've even seen the "thieves" push it down hard during OPEX, making a much lower spike low and reversal.
Hard to get bullish tonight with many indicators turning down from below zero.
$NYMO looks a lot like early March approaching that March 5th low.
Dang! I just saw Islander's post below.
Great minds...
Now I'm worried that it is obvious to everybody and you know what that means...
Heavy one minute selling spikes a couple of times (86% and higher of trades) today and at closing suggest that we are going to at least 1476 and could extend to 1447.
Someone does not believe interest rates increases are good for equities. We got a 100 pts on our contracts so far in this run and its not over. Still looking for a melt-up later this summer.Best,Islander.
And now I see Airedale's!
todays'price bar is obviously incomplete but it's a second break of the nominal 10 wk cycle FLD line yielding a downside projection. 1470 area.
