The Shake Out
And there she goes – after a final fake out spike higher yesterday morning we’re now back to scaring the puppies. If you are a Zero sub in the past few days then you may have noticed that participation kept turning into a flatline at the end of the session. That usually portends monkey business looming around the horizon.
Our short term map has us below both SMAs right now and once the 25-hour drops below the 100 then we’ve got a bit more serious upside resistance. As of right now things could still easily spike higher near the open.
If we descend lower then 1860 is our next logical support zone – a daily NLSL plus the 25-day looms nearby. A drop through that puts us probably near the 100-day which is approaching 1830.
Not much happening on the setup front this morning – what I was able to dig up I’ve got to keep for my intrepid subs – sorry folks 😉
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See you later near the end of the session – until then have fun but keep it frosty. I would also very much enjoy seeing some charts for a change – so get busy!