Stock ready to make a move down to 32 range to stick in channel. Bearish Ascending Wedge indicating move is pretty likely.
from 2014 high down bounced to .618 fib level should continue down, i believe we will see support around 10.96 a bounce to fib levels to form a right shoulder of a head and shoulders to continue furthur movement down.
looks to me that we may have a inverse head and shoulders forming, many sectors want to go higher. looking for bottom at 201.70 for bullish entry.
Spy has reached channel resistance, next couple days should be drastically lower.
many sectors at major support, unlikely that they dont hold. Should see a bounce in the market here after such a rapid sell off.
Bounce to 72 to fill gap . no confirmation for direction yet but downside i believe immenant with so many sectors week and bear market looking more likely.
Will be interesting to see a bounce from most sectors if support holds. will provide great oppurtinity to short .
Ide imagine we see a gap fill after it gains support a red line , maybe forms a light volumed right shoulder. Cant wait to see!!!!
Looking for a bounce to resistance at 50% fib 53.33 then continution down to stay in channel or break down.
a bounce is expected to 17.50 then should see futher decline to support at 15.09
Markets a bit oversold in the hour chart, i believe we stay in this channel until end of year.