The market has been in a downward channel since the end of July and unfortunately now we are dealing with this. As such, being in a downward channel, the rules have changed. Now its not pull up, pull up, go down pull up go down pull up, now its go down go down go up a little bit go down go down go up a bit go down.
The lean is on go down. I feel that we are going to in fact have an up day. Maybe thursday, but I think that the market is still looking down the stairs at this point and people are unsure. Lets look at the chart:
I am looking for a bottom signal, something from a candle that does what I drew into the chart and circled.
The market forces will continue to push this thing sideways and I am looking for a big bottom signal to send us back up. The ADX is in position right now indicating a strong direction change is coming. We wait.
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