The SP500 had quite the negative intraday price action today, up until we had a strong volume supported bounce at the Value Area Low of the current range, in confluence with the swing failure pattern of the previous wick low, as well as the 618 fibonacci level from the low to the high of the trump pump.
I am watching this do or die zone as the key area where the news fundamentally changed when Trump enacted a 90 day pause. Should we start getting acceptance into this zone, I would view that as extremely bearish for the reason that the market is reclaiming lower levels despite positive Trump news.
Lets see how it plays out!
I am watching this do or die zone as the key area where the news fundamentally changed when Trump enacted a 90 day pause. Should we start getting acceptance into this zone, I would view that as extremely bearish for the reason that the market is reclaiming lower levels despite positive Trump news.
Lets see how it plays out!
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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.