UPDATE to Bullish ABC Idea
Chart is pretty busy. It features the 21,50 and 100 daily simple moving averages because price is interacting with them reactively. Detailed here is a potential 2nd wave pull back into the golden zone at 19500 area. Tonight 3-4am EST London open has a lot of S&P PMI data coming out and NY pre market 8-9:30 am EST has US S&P 500 PMI and ISM, 30 year Mortgage and ADP Employment numbers. All significant data points the markets will be watching closely. Market narrative continues to be rally on economic slowdown as markets wager for a third time on a FED pivot, or at least slowdown, for example a 50 bps hike in November. On the technical side we have momentum oscillators supporting further upside, RSI, CVD, and EMA's, and shark harmonic at play to the 22-22.5 area.
**It's really interesting how the bullish idea from the lows got no agreement and so much incredulity... see linked below.
**It's really interesting how the bullish idea from the lows got no agreement and so much incredulity... see linked below.
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