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