Friday 11/14 ...Graph of the rebound
By:
Matthew Graham
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At a critical point currently from an intraday standpoint as we are resting on the low side of a trend channel. Granted, the channel was broken by some quick panic selling this AM, but the other lows and highs of the day have had a lot of technical significance, both in terms of the trend channel and the retracement levels. If we hold here, we should either move sideways or rally. Dipping back under 99-28 will probably lead to languishing, or potentially something worse. Friday's of late have been nothing if not "fun" (depending on your definition of fun).