Usually when Theres a bearish rising wedge playing out theres a dead cat bounce a couple of day after the stock breaks wedge supports; It happened With Penn, Visa, Mastercard, Cat,JPM , BAC. Today the dow jones drop all the way to the low end of the bollinger band and bounced .
Depending on the job report tomorrow the dow can retrace back to wedve support at 35125
then sell off
or
Continue dumping To fib support at 34,662 or 34,617 (100ma)..
Apple , Microsoft , and cisco were helping to balance the losses from cyclicals and but 8f tech is down tomorrow again this will weigh down the dow.
Watch that bollinger band ic the dow does tank to outside of it u should probably cover on shorts. Looking back the dow doesnt stay on the bottom end of the bollinger band long and the bounce back / retracement is violent.
Oil inventory tomorrow at could effect reopening stocks.
PPI friday will also be a catalyst..
Will update tomorrow
WELCOME TO SEPTEMBER 🐻
Depending on the job report tomorrow the dow can retrace back to wedve support at 35125
then sell off
or
Continue dumping To fib support at 34,662 or 34,617 (100ma)..
Apple , Microsoft , and cisco were helping to balance the losses from cyclicals and but 8f tech is down tomorrow again this will weigh down the dow.
Watch that bollinger band ic the dow does tank to outside of it u should probably cover on shorts. Looking back the dow doesnt stay on the bottom end of the bollinger band long and the bounce back / retracement is violent.
Oil inventory tomorrow at could effect reopening stocks.
PPI friday will also be a catalyst..
Will update tomorrow
WELCOME TO SEPTEMBER 🐻
