Possibly (probably) not! Look the candle is not a capitulation candle, the SP needed to recover in the arvo back to the high 07's (077-080), so that it has a tail. The selling was relentless all day, resulting in a solid candle, no one wants to step up and buy. Big volume. Furthermore, the BBs and ema are still in freefall and opening, no sign of leveling out. Yes RSI is way oversold now, but again not levelling out. Lastly, I am sure most of you know, there is a gap at 066, thought we'd hit that today, maybe monday? Until we see the indicators start to turn, the SP may continue to fall or maybe consolidate around the 066-07?! that would be nice Obviously we'd all like it to be much higher, but the bears are in control. Reason; macro events, it's spec bio, NBI, etc. FA could turn this is a heart beat, when FOMO kicks in and people regret selling....IMO. AIMO, all the best and wish everyone a great weekend, remember health before wealth.
IMU Price at posting:
7.1¢ Sentiment: Hold Disclosure: Held
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