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From a technical standpoint (at least how I look at the market), the trend was down, since price made the LL on Thursday. The upward price action off of the LL on Thursday, is nothing but a complex correction in the main swing. I will admit, the correction on Thursday, should not have been that deep, considering that the projection made with the LL on Thursday was substantial.
Now, not knowing what timeframe your trading, what I just said, could be completely out to lunch.
One thing is for sure... there is a seller up there LOL. Nicely defended, a number of hits in that general area and all of them turned around. Enough to drive it below Thursday's low? Guess we'll see next week!
