Can 2018 really repeat?
Updated
It can't be this obvious can it? Volume spiked when we dropped to the 287 pivot both days. We gapped down the next day (much like today), had a minor dip buy for that day, tried to go higher the day after, but failed to hold the highs....and then boom, down we went.
-That boom down we went day...would be this Friday. A repeat of exactly what happened less than a year ago seems crazy unlikely, but if we consolidate and people don't buy the dip today or tomorrow, and Friday tariffs are imposed; it's gonna be hard to ignore the tape.
-That boom down we went day...would be this Friday. A repeat of exactly what happened less than a year ago seems crazy unlikely, but if we consolidate and people don't buy the dip today or tomorrow, and Friday tariffs are imposed; it's gonna be hard to ignore the tape.
Note
I really do not feel good about this, 1% pops on empty Trump Tweets/comments? What do people think this "excellent" alternative is? An 8 day spa retreat for Trump and Xi?....Maybe it's the 25% tariffs that were promised if no deal was done? -Lots of euphoria and emotional trading going on right now. Expect heavy panic buying/selling in the next few days. The overnight gap needed filled anyway. Once people stop and think about what this "excellent alternative" is, back down we go? Or not? If it does go down, that's a check for day 2/2 on the consolidation period that took place before the big sell-off in last October. Although, there was a larger gap down today than there was in October. We'll see.
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