A.M. Look 5/29/19

Mid-Week Shuffle. Time frame trading.

Yes it is the right day of the week for a tradable low and a bounce.

Yesterday’s high @ the qtrly pivot @ 2839.50 is big.
Until you see two closes over that level be in short term trading mode.

The very long and intermediate Point & Figure charts show the market is vulnerable.

Meaning; you will get reactions off the #’s highlighted all the way down.
Presently I do not see those expected wiggles as anything more than short-term opportunities.

Below is link to Yra’s conversation with Anthony Crudele.

It ‘s a recap of everything we’ve been discussing and posting from the room over the past two weeks.

Are we headed for a Recession? – Yra Harris

Oil…has potential for another big leg lower. It’s not an asset to own in a slowing growth environment.

Trade it.

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