Compare the 2 shark patterns. Almost identical ratios and situations with hourly bearish divergence on RSI and CMF. CMF being negative on the hourly means bulls should be nervous. Any gap-open below 290 should be treated w/ extreme caution. Bulls will not be in the clear until a convincing hourly close above 290.40.
If 290 is lost, the next support is the hourly 50MA. If that's lost I think we see a .382 retrace of the larger bearish crab (not shown here) back to 286. The market rarely tanks on a Tuesday though so who knows. My guess market will gap open at 289.65-290 somewhere just to make everybody nervous.
If 290 is lost, the next support is the hourly 50MA. If that's lost I think we see a .382 retrace of the larger bearish crab (not shown here) back to 286. The market rarely tanks on a Tuesday though so who knows. My guess market will gap open at 289.65-290 somewhere just to make everybody nervous.
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