Dislikedi just scalp in fear of 2987.. its near 2962... we are below 2962 2802 and 2771... all huge #s.. we haven't retraced to a # = to a norm move since 317x... but we have gone at least 1/2 way except this time. 1/2 way is 2894/95.. we came close last week.. making a new low as st indicated Friday before 2739.. or even not getting above the R in the posted chart.. and it looks real bearish to me. we are below with close 2711... that also bearish to me.. the thing is, its the norm to go to 2987 before the 2432 target....it happens more times then it does...Ignored
a bounce soon in the 2609 area to 2890 is one a look out for. but it would have to fight some big #s.. and the longer below them the stronger they become. we just closed a week below 2771 and 2749 and 2802.. the month close was below 2962... if bulls we here they would have not allowed this.
there is also a LM at 2679. (m @ 2764 and um 2849).. so we should not ignore it either.. the gbp had good news with gdp growth higher then expected. it still sucked, and the u.s. gdp was higher.. the gbp may have better movement...
those who can, do. those who cant, talk about those who can