SPX 500 Hit some interesting zones today, didnt exactly follow my projected path to the T, never the less it hit the 79% Retracement Zone and reversed so sharply. This can also be a possible false move downward so I'm neutral and waiting for confirmation.
The general market does look quite weak at the moment. PNRA hype seemed to have subsided and bigger Investors...
We are looking for the magenta line to take profits... Of course it can go to new highs, but at least most of our position is sold at the magenta line... why? we are currently in a range, and this is the magnetic zone. It is where price bounces back to before going lower, and ultimately, it is where the price will blast off to new highs from... Ok, our support...