xjo weekend zoomba lounge, page-78

I'm seeing a couple of support points for a low...

NCM has tickled 2 x a previous move down and set up momentum divergence.

BHP reached roughly 5/8 retracement and a less than 1% break below two prior lows before closing above.

RIO made a small penetration through a 50% retracement.

XJO and XSO both reaching prior lows.

So quite a few support points for a bounce but... markets have moved down way too fast and too far for this to be a retracement.... it's a new trend.

I opened a couple of longs on Friday afternoon but by Tuesday or Wednesday next week I think that heavy shorts will be de rigueur.