Epic trading action this week and the adage that "the crowd is usually wrong" was once again demonstrated.
This week's sell-off on Monday hit most of our downside targets we posted last week with the exception of the 2 remaining gaps @ 177.48 and 173.22.
The likely scenario is that we've found a short term bottom here.
A playable trade is for the market to pullback to the downside to fill the gap @ 194.68 followed by a rally to fill the gap @ 208.32 and a re-test of the symmetrical triangle.
This week's sell-off on Monday hit most of our downside targets we posted last week with the exception of the 2 remaining gaps @ 177.48 and 173.22.
The likely scenario is that we've found a short term bottom here.
A playable trade is for the market to pullback to the downside to fill the gap @ 194.68 followed by a rally to fill the gap @ 208.32 and a re-test of the symmetrical triangle.