A weird day, in the sense that we didn't get any sort of buying towards the end of the day like it seems most were expecting. A few breakdown moves, but by the end of the day it was just a sideways chop.
On down days like today you usually see some sort of retracement to the 20- or 50-EMA that you can play off of, not today;
The SPY is sitting right at the 20-EMA on the daily. Do we dip further to the 50-EMA just to frustrate traders, or get the dip-buyers coming in to play?
CL and
APOL had a strong day today, will be making sure to check if there's follow-through in them tomorrow.
On down days like today you usually see some sort of retracement to the 20- or 50-EMA that you can play off of, not today;
The SPY is sitting right at the 20-EMA on the daily. Do we dip further to the 50-EMA just to frustrate traders, or get the dip-buyers coming in to play?
CL and APOL had a strong day today, will be making sure to check if there's follow-through in them tomorrow.
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