I like to do this as an exercise to help my contextual understanding of a market and S/R areas likely to be reaction spots. It is a predictive exercise but I dont bet on this happening. I take real time information available at the time and trade accordingly. Just for fun.
One of the standouts in today's weaker tape. TSLA doesnt care. Honey Badger stock.
Im not loading the boat but I do think higher from here. There are several support areas below that would need to fail before I get concerned.
My view. Still think Coronavirus is a weight on the market. That's just me though.
This chart is very solid IMO on the W, D and H4 timeframes. Acts very well. Reclaimed areas I look for in trend analysis. Higher IMO