We’ve finally lost 100k. This is significant for 2 main reasons.
1. This was the last stand for HTF bulls to call the bull market structure intact. The 50W trendline has now officially been broken for the first time since the cycle started in 2022.
2. 100k is a very psychological level. After being defended 3/4 times and finally giving way, it will now be seen as resistance.
I have no interest bidding this dip given what I’ve said above, and will look for low 90s as the first area of interest.
Preservation mode time again.
1. This was the last stand for HTF bulls to call the bull market structure intact. The 50W trendline has now officially been broken for the first time since the cycle started in 2022.
2. 100k is a very psychological level. After being defended 3/4 times and finally giving way, it will now be seen as resistance.
I have no interest bidding this dip given what I’ve said above, and will look for low 90s as the first area of interest.
Preservation mode time again.