SIGNS OF SELLING EXHAUSTION?
The piggy's been slaughtered. Here is what I'm looking for next...
»CLUB/EDGE client post April 4th at 2:58 pm ET
The Good, The Bad & The Ugly
First, NOTHING is fixed - market is still a veritable mess. TOTALLY BROKEN.
But... it is exactly down 10% since I said Wednesday that I could still see "another 10% drawdown"!
And SPX just reached 100% Fib retracement from the Feb 19th high - also happened to be where I recommended short QQQ at $539 quarterly resistance ;-). Nasdaq100 has now corrected 20%, so there's that.
But it bears repeating:
DEALERS/MARKET MAKERS & TECHNICALS ARE NOT IN CHARGE; MACRO & FUNDAMENTALS ARE!
With that, we need a macro trigger to interrupt the selling, and I have spied one potential for Sunday night... plus ALL the key charts/levels I’m tracking for clients: