Current rally has been on notable low volume. My hypotheses that we have been in a corrective phase still holds until invalidated by price going above 32951. It also suggests the next move lower should take out the low in November 2022.
Alternative view : The character of pullback at or near current levels will provide critical clues. If corrective in nature ,then the case that the bottom is in gains weight. However if impulsive in nature ,then new low case gains weight.
Keep your risk measured
Alternative view : The character of pullback at or near current levels will provide critical clues. If corrective in nature ,then the case that the bottom is in gains weight. However if impulsive in nature ,then new low case gains weight.
Keep your risk measured
