Nice work bears. So that was clearly a distribution as I had hoped and expected. All that choppy garbage up at these highs has produced a strong sell that has taken it out of the range, and we even managed to close under a trend line, too:
So that all looks quite positive for the bears at this point. Now, from here, we can interpret things in 3 ways, which I will examine briefly below:
Let’s first briefly look at the bullish view because we have—as I discussed last night—come close to the
Alright, so that’s what I’m thinking for the time being. And we’ll see what happens tomorrow.