The weekly stoch will get pinned ultimately (like back in 2013 on 2 occasions) but not with the 4 hour and daily in it's current exhausted stage. (Remember the monthly is very bullish). This should be it for now and a drop to the 50W MA of of sub 5401 should do the trick. The market has shown it's hand. The reach above 50W MA has made a statement. There will be a small reprieve and a time to go back and decide if everybody is sure (Fundamentally, the market is sure - Fidelity, ETrade etc.). 5365-5400.
@MichielVan Kets, it aged just fine for me. See 6510. Oh my, I left 200 on the table. Thanks for noticing. Arn't you sweet. I am flattered. Thank God for Elvis.
Mclobster
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Thank you, how far do you think we will go before we finally get a longer correction? And also how far do you think we go this year?
oaksacorn
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@Johnsdad, 100W MA at 6510. May have been it already. Retest 50W MA - 5401. ATH by year end. Pure conjecture on my part. This is what my gut says.