Will It Turn To More Than A Bounce In A Downtrend?

Markets received a nice bounce higher today and many people were scratching their heads asking why? It is easy to assign a particular news headline to price movement and often times it is just one little piece of news which can act as a catalyst to ignite a bigger move, especially after the markets have experienced a sharp decline like we have seen over the last 2 months. This rally is not likely to turn the markets around all at once and we will be on watch for prior levels of support to be likely levels of resistance if the market should continue to rally.

click charts to enlarge

If you like this article and want to learn more by getting access to premium content, click here »

Enjoyed this post?
Get the Free Swing Trading Guide, weekly market analysis, and occasional special blog posts.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

MENU