Top did come albeit 2 days late, important or not, we will know in next few days. Ideally, i would like to hv seen more distribution between 25k-26k but as pointed out in previous posts, there was high volume selling in the last move up from 22400 so it was bound to run out of gas real soon.
Pullbacks should be capped below 24500. Definitely dont want to see 24800 tested anytime soon. 22900-22400 will be key and if the markdown has started, this area needs to be quickly overcome perhaps with an acceleration gap.
I am not of a view that it is the start of deflationary crash as many expect and fear. NOT YET at least. Refer to my 23 May post, "Markdown or Shakeout?" linked below.
Quickly down to 20k and back to 25k-26k :D. One can dream.
Pullbacks should be capped below 24500. Definitely dont want to see 24800 tested anytime soon. 22900-22400 will be key and if the markdown has started, this area needs to be quickly overcome perhaps with an acceleration gap.
I am not of a view that it is the start of deflationary crash as many expect and fear. NOT YET at least. Refer to my 23 May post, "Markdown or Shakeout?" linked below.
Quickly down to 20k and back to 25k-26k :D. One can dream.
