CLF is trading below 50. Do you still think that's a sign we're going lower?
DXO, it is all depend how the market closes today. The market could reverse back up. This morning I believe it was a panic selling. CLF could retrace back up and closes above 50 mark. Then the market could signal a temporary support level from today.
Monday action: Bulls win.Tuesday action: Bears win.Wednesday action:???If 3 out of 5 days this week that bulls win, it is likely the market will retrace back up. Today could be the reversal day. It broke the support level, but it is climbing back up at this time.The closing time will tell the story of today action.
BIDU 5/27/10 70.25
CLF is trading below 50. Do you still think that's a sign we're going lower?
ReplyDeleteDXO, it is all depend how the market closes today. The market could reverse back up. This morning I believe it was a panic selling.
ReplyDeleteCLF could retrace back up and closes above 50 mark. Then the market could signal a temporary support level from today.
Monday action: Bulls win.
ReplyDeleteTuesday action: Bears win.
Wednesday action:???
If 3 out of 5 days this week that bulls win, it is likely the market will retrace back up. Today could be the reversal day. It broke the support level, but it is climbing back up at this time.
The closing time will tell the story of today action.