We are beginning to see volatility in the market once again and its getting pretty exciting. We finally broke through our long term moving averages and to get up over the 200. At this point I feel we are due for a pull back to test the 200 and the resistance line that we have broken through. We may see a retest of the rising wedge we broke down from before heading down.
Targets of 4600 and 4400 as the lows. Retrace to the .618 fib with a touch of the 200 and the past resistance line would be ideal. If that level holds I will enter a long position for the next bull cycle. If the area doesn't hold the bear market is not over.
Targets of 4600 and 4400 as the lows. Retrace to the .618 fib with a touch of the 200 and the past resistance line would be ideal. If that level holds I will enter a long position for the next bull cycle. If the area doesn't hold the bear market is not over.