I traded around my expectations yesterday for a lower low and caught a quick bounce with AGQ this morning. And while I had every intention to maintain the position for the anticipated deader bounce, a few things caught my attention in the analog. Namely the proportions of the moves.
These guides are nothing more than a glimpse of extreme behaviors in the market - an artifact of emotion. Like a rock lobbed into a pond, the geometry will replicate with great congruency at the point of entry and dissipate as you move further away from the epicenter of disturbance.
Whether my caution over the next day is warranted will be revealed by the market. At this point, I am sitting on the sidelines as an observer - because I can see a glimpse of 30 for SLV.