Since the beginning of they year we have seen 4 corrections and they have held a consistent upwards trend line so far. Today we approach this trend line as well as the 50day Moving Average. I am not recommending any long positions as there could be wicks that could blow past the trend line like seen in March. I am looking for a solid day closing in the green and close above the trend line before I slowly getting back into any long positions.
Also be aware if we close below this trend line as it could signal a much bigger correction.
Also be aware if we close below this trend line as it could signal a much bigger correction.
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Bounce and Double Bounce!
