Excerpt from yesterday’s post..”Prior Cycle targets have already been achieved, so today can either go the way of bulls or bears…” “…but as we know markets can reverse at anytime, so we remain disciplined with our trading.”
As we opined in prior blog, price did accelerate higher early in session and stalled just shy of upper targets, then reversed hard into the “noon balloon…noon swoon” timezone. Recall that the 1840’s handle failed to attract new buying late January…Retest of same level was rejected hard yesterday marking an “Outside Day” with increasing volume…bearish indeed..short-term.
Key Zones for today are: StatX Zone 1818 – 21. Look for some price stabilization within this zone. IF price fails to find sufficient buying interest, THEN 1808 – 1812 zone comes into play. We would anticipate upper resistance 1824 – 28 initially, with more significant supply near 1832.00
I can recover from any setback. I have an attitude of abundance. I affirm abundance in the universe. I know I cannot begin to count the stars. I realize the ocean doesn’t care whether I go to it with a bucket or a teaspoon. I know the market provides a river of opportunities. I invest in my capabilities. I will be happy with my results.