Thoughts....
I've never understood why traders feel the need to make predictions. Trading based on predictions (e.g. hope) is a fool's game and impairs our ability to make clear and objective decisions. In my opinion, they should be based on what is seen. Once you understand what you see, it's possible to make the decisions that lead to being a succesfull and profitable trader.
In my opinion, there are still too many charts clinging for dear life to say the bottom is. A final wash-out will take everything down, and that hasn't occurred yet. Unfortunately, it's impossible to say where we're headed over the short term. I've posted some key levels I'm watching on the S&P 500 chart below that will be my guide over the next week. I've also included a spread sheet listing the key technical levels for the Short & Breakout Setups.
In my opinion, there are still too many charts clinging for dear life to say the bottom is. A final wash-out will take everything down, and that hasn't occurred yet. Unfortunately, it's impossible to say where we're headed over the short term. I've posted some key levels I'm watching on the S&P 500 chart below that will be my guide over the next week. I've also included a spread sheet listing the key technical levels for the Short & Breakout Setups.
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