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17:47
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Originally posted by JM12:
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I think its natural to see a bit of consolidation down at this level after such a savage selloff. I think the positives are the reduced volume and the series of higher highs and higher lows. I also think bot held up rather well over the last few days while specs got spanked due to the flight to quality. To me, its pointing to a possible turn in sentiment and indicates heavy selling pressure is over. With the macro environment looking better, I think once buyers get a bit more confident that the selloff is finished, we'll start to see it move up. Early days, so might chop around for a while longer but think the low is in. If the US pops tonight which futures currently seem to indicate, I think bot will break .31 tomorrow. fingers crossed.
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Yes, lower volume might suggest selling exhaustion… or it could just mean everyone's tuned out and waiting for actual numbers.
(20min delay)