9:13 A.M. As you can see the internals are showing us nothing bullish. $VOLSPDC is all red, $BANKX is breaking Fridays lows, we are taking out trendlines and support levels. I am not going to chase this, I will wait for a bit of a pullback to get in if at all. We blew through S1 and S2 in the first 30-45 min of trading...a bit over extended...possibly. Stay vigilant and good luck!
Courtesy of Subq
7:26 A.M.I was gone last week from Tuesday to Friday, working on a new business venture. But what I see is the channel we have been in since mid March and also a bearish rising wedge
. A break of that lower wedge should take us lower. Look for the 20 and 50 MA as well as the 850 and 831 areas, also riding down the trend line is a possibility.
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