The market is coming back from the abyss in afterhours again. The volatility in afterhours is off the charts and the fear is starting to percolate. I don't think we're there yet, the bottom. We probably need to touch base between 1090-1100 before we can go higher. I think this market has one last whoosh left it in. I expect us to get back down today and fill the gap left on Friday May 07 at 1107.
I think we're oversold. If we do bounce I think 1150 is doable. I hope we at least bounce a little before making lower highs and lows. This is a staircase pattern down.
ReplyDelete