FOR two days we have hinted at a return ( from the mid 90s) to the 1277-78 level before bulls tackle 1300. Bears got their sell off today in the Euro Zone and pre-US Open. By B8-9 the range run was complete, and a SBOT develops to 73. Hmm, a BO-5 from the 77-78.
B11-12 was a 50CB reversal for the bulls back to a resistance at the Mid BOT. At the first screen shot, some were still looking short as PA played with the SBOT,
[13:39] <CM> perhaps long the db test or wait for 80.25
[13:45] <CM> the scenario btw was for a test of 77-78 before 1300 bears are aware of this..
[13:47] <CM> IE pa was mid 90's they got theirs and not eager to give it back covering a sh loss
This was perfect. A HL at the SB, a possible double bottom of the 1273-74. Bears made money in the sell off from the mid 1290s, and got the test of 1277-78. They would not be interested in taking new shorts here only to cover to the bulls. LONG IF THE LOW TESTS AGAIN OR WAIT AND LONG AT 80.25.
Bulls returned.... smart bears stepped aside.
B11-12 was a 50CB reversal for the bulls back to a resistance at the Mid BOT. At the first screen shot, some were still looking short as PA played with the SBOT,
[13:39] <CM> perhaps long the db test or wait for 80.25
[13:45] <CM> the scenario btw was for a test of 77-78 before 1300 bears are aware of this..
[13:47] <CM> IE pa was mid 90's they got theirs and not eager to give it back covering a sh loss
This was perfect. A HL at the SB, a possible double bottom of the 1273-74. Bears made money in the sell off from the mid 1290s, and got the test of 1277-78. They would not be interested in taking new shorts here only to cover to the bulls. LONG IF THE LOW TESTS AGAIN OR WAIT AND LONG AT 80.25.
Bulls returned.... smart bears stepped aside.
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