A gap, a plunge and a recovery into the close. Something for everyone.
Another strong bounce at the lower extreme of the channel.
An impressive day with the fear levels providing a deeply negative environment for a powerful up move as the market switches back into a buying phase.
This is a very unstable market and we should be prepared for much more of this type of action.
The T volume oscillator displays a severe decline which continues to be worrisome as the cash-build up line is very steep and therefore short. There is very little structure and this suggests that the current move is a dead cat's bounce and that there is a deeper low ahead of us.
Be prepared for whatever is coming next, and trade with confidence:
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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.