- The bears have captured the TAPE (pls see here and here )
- lots of HS breakdowns
- Commodities and here particularly OIL and SILVER took it on the chin
We saw some dramatic action this week with alludes to the potential of more de-leveraging along the way. On the other side the markets seems short term oversold which should limit the near term down action and lead to some pause. The various TimeClusters around next week to the end of the month seem to hint into the same direction.
In order to paint a more green shoot friendly picture the bulls have to re-capture the tape by building up buying pressure.
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