Lots of selling took place last week, and it may continue next week. Might have some sideways action at first as all the moves are being digested by the markets, but I think we are eventually heading back down to support as shown in the chart.
If we don't touch it and head back up instead, I don't see it rallying much before finally completing my proposed move anyway. I am sure we will hit my target before we make any new highs.
If we DO hit my target, I'll be buying with both hands and feet. Remember folks.. market tops take weeks and months to complete, even if this is a top, it will take many weeks to make up its mind, and the highs will be retested multiple times.
Good luck and happy trading!
If we don't touch it and head back up instead, I don't see it rallying much before finally completing my proposed move anyway. I am sure we will hit my target before we make any new highs.
If we DO hit my target, I'll be buying with both hands and feet. Remember folks.. market tops take weeks and months to complete, even if this is a top, it will take many weeks to make up its mind, and the highs will be retested multiple times.
Good luck and happy trading!