- Daily closes below 90DMA (green) lean me toward selling rallies intraday while looking for 2-7 day rallies to potentially position short for a swing trade. (For example; dips in bull markets, the RSI (purple indicator line) tends to find support between 40-50...while rallies in bear markets, the RSI tends to find resistance in the 50-60 area. Just guidelines but additional clues as to environment.)
- As mentioned in previous posts, weak action...bounces are next to nothing right now. But, intraday, even those tiny bounces relieve oversold temporarily and allow for further downside. Currently, behaving like the MAR rally...only in reverse. Sure hope that crap ends. Still thinking some bounce more likely but ya never know...thus I'll stick to intraday for now. Recent 60 minute chart below for grins.
- While waiting....trying to remind myself...One day at a time.
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