That late sell off last night on US stocks for me was in the barrel just waiting to pop that support which had been holding all day. We all have our own ways of identifying support, but mine was showing up nicely on my 15m tf 200sma which was positioned at 27,240 for the first pullback on the Dow at 12 noon UK time, a bit lower down at 234 for the second one @ 4.45pm, and again @ 234 when it was hit for the third time @ 7.30pm UK time. by which time, the weight of momentum was so heavily to the downside that it popped, and boy did it pop!, not a huge drop on % terms, but it was a late sell off on a Friday, which significantly, finished the session right down on the lows for the day, so no late signature rally which we normally see from Wall St, and that potentially bodes bearish for next week.
I won't be around Monday/Tuesday and perhaps for the rest of the week, so feel free to contribute to this thread, as more is always merrier, and a big thanks to those who have contributed, your views and opinions are always appreciated.
Nice weekend to all. I won't be around Mon/Tues or perhaps all week.
Trade safe.
Cat.
I won't be around Monday/Tuesday and perhaps for the rest of the week, so feel free to contribute to this thread, as more is always merrier, and a big thanks to those who have contributed, your views and opinions are always appreciated.
Nice weekend to all. I won't be around Mon/Tues or perhaps all week.
Trade safe.
Cat.
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