Why did we need this drop?
Because we have a perfect uptrend channel that started after the S&P bottomed on Oct 13.
Got to fill it in.
Before the market goes higher again into early Dec.
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How do you think the market will react today? Are we oversold or there is more room to go down?
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So you're of the thought we just test the uptrend support before moving higher & not a loss of the uptrend all together. Makes sense. Hope you're right. Golden opportunity to go long at uptrend support
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Yeah. The SMA and the EMA will paint the same picture at the open.
I wonder if this is a good time to go short or if we get a bounce first 🤔
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I warned after last weeks rally that Fed would do everything to throw cold water on it. Bullard today saying rates still may have to go to 5 to 7 percent is causing futures down 50.
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