Lookin' For a Low
Hey traders,
After a large sell-off Friday, the question is, how are we looking going into next week?
We're using all technicals for this one with a sprinkle of economic news. Considering tariffs and deportations, "disruption" of goods, etc. I would say we are looking for more downside with the economic insecurity.
I expect the VIX or UVXY to start climbing, this may even be the start to the much needed 20% correction the market needs, but I'm not quite that ambitious yet.
Opening bell on Monday could be a DCB (Dead Cat Bounce), with a quick pop and drop type scenario. After all, it is the tail that wags the dog.
Looking for the low, long-term trend line dating back to October of 2023 would put us somewhere in the range of 578-581 and by the way, I think we're going even lower. That price, for now, is the target.
I'll keep it short and simple for this one, it's a pretty straight forward analysis. Overhead resistance, bearish sentiment, and a lingering correction.
Thanks for reading. 🙏
After a large sell-off Friday, the question is, how are we looking going into next week?
We're using all technicals for this one with a sprinkle of economic news. Considering tariffs and deportations, "disruption" of goods, etc. I would say we are looking for more downside with the economic insecurity.
I expect the VIX or UVXY to start climbing, this may even be the start to the much needed 20% correction the market needs, but I'm not quite that ambitious yet.
Opening bell on Monday could be a DCB (Dead Cat Bounce), with a quick pop and drop type scenario. After all, it is the tail that wags the dog.
Looking for the low, long-term trend line dating back to October of 2023 would put us somewhere in the range of 578-581 and by the way, I think we're going even lower. That price, for now, is the target.
I'll keep it short and simple for this one, it's a pretty straight forward analysis. Overhead resistance, bearish sentiment, and a lingering correction.
Thanks for reading. 🙏
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.