The NAS bounced beautifully out of the green zone I highlight in my last post and then finished the week right at the bottom of the neutral zone (tan box). Price also closed just below the 9/21 ema cloud which is a zone many bounce players would look to take profits. Price will have a lot of work to do to get back to a bullish posture. Below the neutral I expect price to move sideways to down. Above the neutral I look for price to move sideways to up. Bulls want to see price consolidate at the 382 then break higher to the 618. Bears want to see price reject at the 382 and retest the recent low. The previous week's high would be a huge level to break.
