Another day, another case of whiplash. The dollar is indicative of the volatility — a downtrend to the white .886 that reversed back up to the .382 before heading lower, right? After retracing about 101% of Sunday’s low, it reversed and regained the white channel — only to abandon it again this morning.
This morning’s post-consumer confidence plunge (completing an H&S Pattern) probably had more than a few bulls reaching for the sell button. But, it stopped .25 shy of yesterday’s low and recovered the neckline in a matter of minutes.
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