All in the video, I do expect a bounce soon for about a week or so. 4k-3950 could happen by tomorrow....
Komen:
4hr rsi on futures already near it's lows. Chances are a bounce comes soon but more downside would just get it to extremes on the rsi.
Komen:
SPY BB at 400.44
Komen:
SPY BB and pitchfork support. Not much more downside before a bounce in my opinion.
Komen:
we could go down some more, but daily rsi is already quite low - similar to the last daily rsi lows. As I said in the video, I expect a bounce for about a week to reset that rsi - at least a little bit.
Komen:
hourly chart suggests one more low and then bounce -
Komen:
to target area
Komen:
possible bear trap for the morning. We could also just run up, but i think another low first would look better.
Komen:
weekly MA on the Cash index "should be support" - right now at 3967
Komen:
support found at that weekly18/daily50 and daily BB. Underneath this support and it's bad news. I think it comes eventually but first a healthy bounce.
