Yellow trendline is a long term support level originating from 2008 bottom. Can see the market testing and bouncing from this level a number of times.
This is the level to be watching right now. Definitely overextended to the downside in the short term thanks to this black swan event that is the Corona Virus. I think a sharp snap-back (dead cat bounce) is most likely from these levels now.
Could very well be the beginning of the long term top for this 11yr bull market given the general public's consensus of a long term recovery from these levels.
This is the time to be very watchful.
This is the level to be watching right now. Definitely overextended to the downside in the short term thanks to this black swan event that is the Corona Virus. I think a sharp snap-back (dead cat bounce) is most likely from these levels now.
Could very well be the beginning of the long term top for this 11yr bull market given the general public's consensus of a long term recovery from these levels.
This is the time to be very watchful.
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