The Bounce was Inevitable, What You Do With The Bounce is What Matters...$SPX
The bounce was a given, no one knew exactly when it would happen but the ideas around 2770 and then 2700 were pretty obvious.
Now that this has occurred everyone is trying to figure out what happens next...
You can see on the chart that we go very oversold. The selling pressures that has occurred has alot of people trapped above. They are going to want out and I believe with the lack of momentum at these levels this first bounce is going to be feverishly sold. 2710 will be tested with 90+% chance. This rip gets sold very soon in my opinion.
The Bounce was coming, what you do with the bounce is what matters!
PS Disclosure: I am 100% allocated to cash in the Equity Markets
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by heyimsnuffles
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