At a critical inflection point.
If we break the 100SMA (which aligns with the .786 fib by my Ultra-Bear target of sub 1,000) I can see us fighting the 200DMA at around 3,000.
We either get rejected today and the fireworks begin, or we get rejected in the next 1-2 weeks at the 200DMA.
Either case for the Ultra-Bear leaves current levels as great options for short entries.
If we break the 100SMA (which aligns with the .786 fib by my Ultra-Bear target of sub 1,000) I can see us fighting the 200DMA at around 3,000.
We either get rejected today and the fireworks begin, or we get rejected in the next 1-2 weeks at the 200DMA.
Either case for the Ultra-Bear leaves current levels as great options for short entries.
