Prices sold off hard again this morning, easily pushing through previous support. There is a mild correction going on as I am typing this up, but that could be nothing more than a correction that will turn back down soon. I’m calling the bias down for now, but if this correction turns into a rally, that will turn the bias up again.
I would expect mixed trading no matter how things play out overall today. So far, this has been a very bearish morning, so more heavy selling is still possible. Again, there is a correction occurring as I am typing, but that could play out at any time. Prices are very oversold as well, so strong rallies can occur at any point in time, even in heavy bear markets, so just be nimble and be careful selling at the very lows.
