Today was a bad call from yesterday’s game plan. Today was a down day, further away from the daily 200DMA.
tomorrow’s game plan
Today started off pretty bad, but recovered well by the close. The good news is that today and yesterday looked like some good absorption of selling. The bad news is that I didn’t think we would need to absorb selling once we got to this level.
Anyway, I think the long lower wick on today’s candle is a sign of strength. I think we close higher tomorrow. As supply is absorbed, demand should start taking control, even though I though demand would have already been in control by now.