1340 represents very strong resistance.
Right at trend line of down slopping lower highs from May 2.
Are we ready to spring back up?
1300 is looming out there as a key support zone after the overnight move to 1302.25.
Lower lows and lower highs to these moves. Haven't seen any capitulation yet.
Are we compressing the spring for sharp summer rally? Or is this selling the beginning of the 'double dip'. Continue to play the technicals and we should be alright.
Market can't seem to break one way or another.
This most recent sell off never gained traction.
If the daily chart holds this swing low for a couple days, should be major bottom heading to new swing highs. Climax sell offs are usually a bit stronger though. Have only broken one significant level and bounced right back from there.
Now to see if we are upside from that level or we come barreling back? Debt problems everywhere not helpful.