OK- Bingo. We got the 1340 broken, and the "O" has appeared:
Now, what SHOULD happen, is that we can roll around here a little bit, but the 1330 floor underneath us is solid at steel. Since we're still above that blue "Bullish Support Line", we MAY spend a day or two in the 1330-1340 range, BUT-- then we should head back up. IF and when we do, the next cycle up will be to the 1390-1400 range. That assumes we go up.
That's IF the bullish support line holds. I tend to think it will, only because we're in an up-slope line, and because although the news isn't very pleaseant these days, we seem to get money flowing back in each time we've gotten to the bottom of these waves for the last couple times.
The fact that we got a "high pole warning" on April 9th means that we COULD be in for some trouble here, though. We'll just have to wait and see how it works out.
Our make-believe "PF Chart C" account in the autotracker made the move to safety yesterday. We'll continue to watch now and see what happens over the longer term.
Isn't this fun?
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