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How low will it go?
This is the big question. Normally we can have an idea by looking at the charts to determine where the probability of either support, or even a reversal may happen. However as many have already alluded to the fact "this time it's different".
I am writing this on Monday 23rd March after the days trading.
The market has closed down again, and the reversal of price and MFI just gets more pronounced. Normally I would be screaming buy, but I think this time fundamentals are overtaking any support from technical analysis. I almost can't believe the OBV indicator is trending up, either the indicator is broken or we are in for one hell of a bounce.
Last week I mentioned my Zen calendar. Every morning I turn it over with curiosity to see what wisdom it will speak to me, it gets more profound every day.
"Zen pretty much comes down to 3 things. Everything changes. Everything is connected. Pay attention."
(Jane Hirshfield)
Peter
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