the entire mkt is in a Washout Pattern (WO) pattern here
meaning:
- there is reason to buy the mechanical entry a nickel above the hi of today
- there is reason to buy evidence of momentum prior to the mechanical entry in order to front run it, so that u can get a better average price
- there is reason to buy a gap down and morning hook up
- there is reason to be cautious of gap higher opening, where we should wait for a pullback and evidence of a hook back up
- there is NO REASON TO BELIEVE that THIS ONE IS THE BOTTOM
- everything gets measured in terms of risk:reward and we feed the bulldog every day
