If you reviewed the majority of 10% corrections over the last few years in the major indexes I'm sure you would find some similarities with the intraday charts the last few days.
The gap up at the open, selloff all day as weaklings who thought they had the bottom sell into big players hands who are covering and getting long, and then the subsequent rally into the close. That folks, is just classic deviant market action.
This is a correction until those August 16 lows get blown away. The best part though, is they have freaked out so many people, shaken so many people, they will be able to run this thing again pretty good on a bounce until new highs are hit.
The gap up at the open, selloff all day as weaklings who thought they had the bottom sell into big players hands who are covering and getting long, and then the subsequent rally into the close. That folks, is just classic deviant market action.
This is a correction until those August 16 lows get blown away. The best part though, is they have freaked out so many people, shaken so many people, they will be able to run this thing again pretty good on a bounce until new highs are hit.
