3 replies to this topic

[dcengr]

All indicators pointing to a bounce, perhaps after a soft morning. But even if one bought the morning, its likely that higher prices will be around not too long from here, IMO.. unless lows of futures are broke, then everyone man the lifeboats.

[rkd80]

All indicators pointing to a bounce, perhaps after a soft morning.

But even if one bought the morning, its likely that higher prices will be around not too long from here, IMO.. unless lows of futures are broke, then everyone man the lifeboats.

i would be very surprised if htis bounce lasts for weekS. A week maybe...but that would be a stretch. It's basically suggesting a V-bottom, how often do those happen?

[NAV]

All indicators pointing to a bounce, perhaps after a soft morning.

But even if one bought the morning, its likely that higher prices will be around not too long from here, IMO.. unless lows of futures are broke, then everyone man the lifeboats.

If the lows of the futures are broken, why lifeboats ? Why can't that be another low from which a rally starts. Is there anything important below that, which warrants such caution ?

[dcengr]

I'm not saying its going to last more than 5 trading days. I said multi week in the sense its going up this week and part of next week. As far as I can tell, the oversold condition and sentiment needs to be reset, and it requires a minimum of until monday to get it reset. IMO it'll go up choppy, not too strong, but up steady enough where shorts will capitulate. As for today's bottom, if it fell below that point, it would track another fractal I'm watching and that said much more to the downside. Since I'm not in favor of that fractal and I'm following another one, that fractal says up at least for few days. Gap downs should be bought for a few days, all IMVHO.