Move stops on shorts to 3015.6, and enter 2 units long on stops at 3032.3, risking 2998
Error!! The FLD36 was breached last week near 2990 giving obj approx 3080. 36day low due mid Nov is now questionable.
A TL connecting high closes last 6 months or so crossed at 3000 area yesterday, and was broken. OldSchool says 2nd close over TL is valid action signal. This would imply that the 43week low we have been seeking, and expecting mid Nov may have already happened.
ATH plus a margin would strongly suggest an impulse to 3080 or higher.
The news and commentary goes one way, and the mkt goes the opposite. I hope the mkt takes big drop before going higher.
Stay on the right side of the cycle!
