Which media, if you know? I'd like to watch all of them if possible.
And regarding the .618 retrace I mentioned in my prior post, it bears noting that the ideal retrace is the 618. I always look for retraces as important price levels. A 618 is like saying "yeah... there's more to the upside coming because there was only a little retrace here."
A .50 retrace, and a .382, are less attractive. The bigger the retrace, the greater the likelihood it will do a full 100% retrace. And never lose sight of the importance of volume at (or around) the retrace levels.
Also, always watch the 200 day MA. The long tail of the ZN candle of 3/28 did a dance with our 200 day, BTW, and it was noteworthy that that level was both lower volume AND that the 200 day was rejected soundly, in no uncertain terms.
And put ZN up on a 15 minute chart. Look at the 1:30 PM central time candle. Its high volume and its a rejection of new lows. Very firm rejection at that, and look at the 2:15 hammer candle (again, using 15 minute chart). That was today's second late day retest of there being further lows; by which I mean.... using the 15 minute bars, there were two: one at 1:30 and one at 2:15.
Again: a FIRM rejection of new lows was the outcome of these two late day long tailed candles.
To have the importance of the 200 day driven home, just look at today's Russell, DJI, New York Composite, the QQQ's, the S&P 500's.... look at all of them today and they all did a dance with their 200 day's in this current general market pullback, and they reversed today (obviously, the general idea being that money managers use the 200 to trigger buying, and once they felt certain that the 200 was going to hold, they bought today).
So, watch key levels like the 200 day and the Fib level (and watch known candle patterns like hammers and hanging men) to gauge any chart.
And in the case of Zion today, the EOD hammer candle at the 618 is very telling, IMHO.
So, a hammer at the 618 is pretty encouraging.
Imperial Whazoo
"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."
