Morning Ideas July 16, 2021
A quick dip below 4340 yesterday was quickly bought and here we are back into the middle.
I think that with the dip lower yesterday, the odds are in favor of a test of 4390 or a slow sidewaya day. I don't expect to see the market go back down and break 4340 again today.
With the buyers being in control of this market, you MUST give the benefit of the doubt to the longs here.
If the market starts selling off next week, we may miss the first move down, but there will be plenty of opportunities to play the short side.
I think that with the dip lower yesterday, the odds are in favor of a test of 4390 or a slow sidewaya day. I don't expect to see the market go back down and break 4340 again today.
With the buyers being in control of this market, you MUST give the benefit of the doubt to the longs here.
If the market starts selling off next week, we may miss the first move down, but there will be plenty of opportunities to play the short side.
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.