We will liquidate weak longs trapped above 4100, bounce back to 4000ish for a consolidation that will eventually break 4400, and lead us to a range high of around 4800. Then we will fall down and trade sideways for weeks. Thoughts?
If we hold the daily open from November 24th, I think we will have found our temporary bottom. 4400 is major resistance, break and close above that, and we will rotate up and liquidate any week hands above 4600 which will wick us to 4800 and mark the top of what will become a long standing range that will take place in the 4k region.
