On your SPX daily chart where you're looking at 75, 160, 220 MA's, are you looking at just the MA's, or do these MA's have an envelope? If so, how wide are those envelopes?
You must be expecting some kind of bounce here as you've closed some of your shorts. But based on I1, seems like today should be it, no? Are you seeing a waterfall decline beginning either today or on Monday?
FWIW, the cycles guys I follow are seeing this decline happening early in both a daily and an intermediate cycle. That usually portends much lower prices before each of those cycles bottoms.
Good morning!
ReplyDeleteOn your SPX daily chart where you're looking at 75, 160, 220 MA's, are you looking at just the MA's, or do these MA's have an envelope? If so, how wide are those envelopes?
You must be expecting some kind of bounce here as you've closed some of your shorts. But based on I1, seems like today should be it, no? Are you seeing a waterfall decline beginning either today or on Monday?
FWIW, the cycles guys I follow are seeing this decline happening early in both a daily and an intermediate cycle. That usually portends much lower prices before each of those cycles bottoms.
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