But that's no surprise to anyone that's experienced in the markets as bear moves are usually more pronounced.
Anyway, we once again find ourselves at the key $12.40 zone..an area that marks the confluence of 3 key support levels..The 20 Day(Red), 50 Day(Green) & the Pink horizontal $12.43 former resistance line where it broke out from.
Don't forget that this one was in the $13.30's both yesterday and almost today..albeit for a very short while.
So, what do we do..
First off, we added a 3rd unit today which is slightly under water..but that's not such a big deal as this one has shown the ability to rocket up .50 in 2 minutes.
We basically added the 3rd Unit because we saw nice support and buying pressure in the Dow..which did rally bringing the key IWM index up off it's lows.
That being said, there was clearly a seller in RMBS today who basically capped any rally attempts..even when the Indices rallied..which is a bit of a concern but one that we'll be monitoring closely tomorrow to see if that was a "one and done" type scenario.
If not, and we see some correlative buying(we expect the Dow to break out higher from here), then we very well might be adding 4th and 5th units.
But as usual, let's see what tomorrow brings....