On the chart I have marked 3-day time cycles at the bottom of price, starting September 29th when we had our widest range down day and fell through support. Since that time every third day was a wide range day that was either a new low or closed on it's low with a large range (October 2, 7, 10, 15). Pretty coincidental huh? This past Monday would have marked another 3-day cycle, but price instead rallied. Perhaps we're transitioning to a 6-day cycle? Which just tells us that it's taking more time to have these wash-out sell-offs, which in turn could mean the downward trend is slowing down. We'll see how things turn out tomorrow.
Notice also that the 10-MA is resisting upward price movement.
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