Back of the napkin calculation...Expect a run down to 1832 (maybe by Friday) which could take the SMA-9 to 1905 where the SMA-200 is; followed by a bounce or crawl to 1904...before recommencing the move down. Very Short Term LONG, Long Term SHORT
It is unusual to notice whenever the Fed is close to taking its foot off the gas all market hell breaks loose! Wouldn't be surprised if there is a surrogate or explicit #QE4 in that case all tech charts go out of the window!
Bears go broke...because this isn't an equal game it's bulls + the Fed against them...
Will_Wong
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I think the FED announced QE4 albeit in low volume but low rates postponed further. That's why the DOW rebounded from an almost 300 point drop to end the day just down 24 points. That is a long hammer which could be bullish tomorrow. Time will tell.