Will it just be dead cat bounce tonight?
- Gap mostly filled except the small one between 402 and 403
- Descending wedge is a bullish indicator ==> Likely a bounce tonight
- Key is how high is the bounce?
- Look for final gap fill between 402 and 403 which is also for the price action to reclaim MA5
- Failure to break above 403, then likely we will be headed down another leg to 395/397 (400 might hold though)
- Note that 403 is also bear flag fib 38.2
- Earnings 31 Jan - AMD, 1 Feb - META, 2 Feb - AAPL/GOOG/AMZN will likely be the catalyst to bring this out of range below 400 or above 407
- FOMC on 1 Feb is the other big catalyst!
How will it play out?
@TigerStars @CaptainTiger @LMSunshine @melson @Deposit
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