OK- here we go. tomorrow will be the good day- and here's what is going to happen.
Tomorrow morning, we'll have a dip in the first hour. I say that because we STILL did not get the "O"s to appear today- we need to drop below 1320 for those "O"s to show up, and that should happen in the morning tomorrow.
Here is the chart from today- with a close at 1325.76 we ALMOST made it to the stage of "O"s appearing, but no cigar today.
Again, what this is REALLY telling us, is there is a WHOLE LOT of strength out there ready to come back into the market- it's not been enough to get the "O"s to appear, so when it does tomorrow moring, we're at the place we need to be to build the foundation to start moving back up.
I could be wrong, but as of 11 pm. estern time- this is my thought-
Tomorrow, within the first two hours, we'll break below the 1320 level, and that will mark the appearance of those "O"s. that's where those "O's will appear by the orange line I have drawn, and that's what we need to get in order to turn things around and head north.
Provided that there isn't any adverse news tomorrow (and that is probably the one thing that could derail this), then by afternoon we'll get money flooding in for the last hour, and we COULD close higher tomorrow- like 1335, and headed north for the weekend.
Not sure- but that is what my gut is telling me. Lower morning, followed by the rebound in the afternoon.
Good luck, and happy investing. We'll see by late tomorrow afternoon whether or not this is the case.
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