John's Intraday Market Analysis
- Thread starter john99
- Start date
Possible scenarios
1) That is the top and we continue to sell off
2) Flat range through lunch then test of high +/- few ticks, then a big breakdown
3) Bull flag through lunch then new highs and only a slight selloff to close. tomorrow will be most likely reversal day then with FOMC minutes.
I think 2 is most likely, but I have been wrong before :eek:
1) That is the top and we continue to sell off
2) Flat range through lunch then test of high +/- few ticks, then a big breakdown
3) Bull flag through lunch then new highs and only a slight selloff to close. tomorrow will be most likely reversal day then with FOMC minutes.
I think 2 is most likely, but I have been wrong before :eek:
Very good scenarios, I hope we don't get option 2 but that is in the back of my mind as well, We will have to see if the 200ma bounce that we are getting can be broke.
Also 74.10 is 38% retrace level on IWM, which is always a good place to go long if it holds, however, I want it to break, hopefully a lunch time reversal.
Also 74.10 is 38% retrace level on IWM, which is always a good place to go long if it holds, however, I want it to break, hopefully a lunch time reversal.
