Cheers Sir Bitter! :) Enjoy the weekend -
(and enjoy forgetting about all this for a few days)!
About $DJI;
The somewhat broken support line going back to early June makes the last two days look similar to the whipsaw lows in mid-August. This indicates 12,400 within a couple days.
The firmer more recent support, going back to mid-September, shows support at 11,900 in a few days, then a bounce to the 12,300 area.
Either way:
The 52 week low on the DJI is still 11,939.61
The 52 week lowest close is 12,050.41
Both set last March, so in a sense, if this holds, and it recovers, we will have a double bottom here. Unless this really is a downside breakout.
meantiume, LVLT has a 52 week low of 2.66 set in November and is right now at the botom of a 3 month channel btwn roughly 2.80 and 3.50.
A closer look shows some indicators are breaking down today, while others are still right where they should be. I like the SS uptrend since 12/17. Going to be an interesting week.
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