Daily Price Movement / General Discussion, page-29645

Everyone guessing and talking about resistance

there is no resistance, walls, gaps to be filled etc when the markets are in free fall. I said it on Friday

definition of a technical market correction is <10% but > 20%

if we meet half way at 15%, then at a 30 day MA at $7, brings her down to $5.95

if we say it’s the lowest band at 11% then at 30 day MA that brings her down to $6.23

if we use the top band of 19% then at 30 day MA that takes her down $5.67

We are currently trading just under 20% down from her 50 day moving average ($7.15)

the reality is, with China, inflation scares, logistic pressures, macro, micro and geopolitical factors, the markets will continue to sell off.

without an announcement or catalyst, we are almost guaranteed to see very low $6s and very likely to see $5s IMHO