All of the points made here remain in play. And $BTC did, in fact, react to the level discussed here. That said, both the S&P and the Naz have left their respective bull flags discussed here and we have yet to see a sharp reversal signifying a change in momentum. One last structure that is still in play is a large bullish wedge on the Dow futures:
That’s where it’s stopped this morning (at least so far), and if the market is going to stage a strong recovery, it could be here. If it does not, I don’t have much choice but to continue to expect some kind of relief somewhere in the wide range discussed in the first chart of this post.
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