AA, we dropped below 2025 Friday, which was in a very important pivot area on the way up from 1980 Jan. 3. Once we dropped below that point and hit 2018, a test of the 1918 pivot low came into play.
Max Pain is going to play a very large role in the market movements this week. The charts indicate we should go up Monday, possibly after a drop to 2018 again or 2008. My guess is 2008-2010. I don't see a rise getting much past 2042 on a bounce, since this is a downtrend to re-test 1918.
A drop to 1980 after that and a rise to 2025 with a landing around 2000 will take care of fib re-traces, 15-minute and 60-minute charts, gap filling, and Max Pain. It's probably not going to play out this way, but this is what I'm on the watch for.
Anyway, I was also looking for a squeeze, but when we failed to take out 2100, the chances for seeing that diminished, IMO. |
