Loading ...Stocks Dumped today
Were you short or long into this move?
Here is my chart. I have been short with SPXU and BIS since March 16, the day Price was rejected off the top of my small Green and Orange parallel price channel on my chart. The confluence of the Orange and Red resistance lines provided strong resistance for Price and I would have exited quickly with a small loss had price broken to the upside.
It did not break to the upside and dumped once it broke to the downside of my small channel. Based on my cycle work, I think Price will likely break my Blue Trading Cycle uptrend near the 50% Fib Retrace before finding its next short term TC Low.
