My guess? Yes, I think it will retest the 6ish level but not because of the technicals nor based on solely fundementals either. The past few years have left me very jaded from a trading standpoint. I don't trade short term any longer. (at least for now)
Remember back in the 90s when we were finally allowed to trade online? We had finally reached a level that wasn't quite parity with the "big boys" but it was the closest thing to "fair" that the retail investor ever had. But it hasn't lasted. The past 10-15 years have brought on a new form of screwing retail- HFT.
In today's environment, retail chases the same table scraps that we did back before computers imo. Once algos point a direction (up or down), the market, like a tidal wave, follows the course. That's not to say that technicals or fundementals don't work- they do. It's just that they now point to the eventual direction the stock will go but not until the algos have had their way with it first and therein lies the rub. I don't have the patience to wait in today's current state, fighting computer driven trading, the APEs, the stupid Fed, this stupid administration... you get it ;-)
That's why I think it will retest- not because of reasoning but because of fate lol!
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