The most important level in the stock market held — barely, and exactly on time. The S&P 500 fell to 7,539.38 in Monday’s session before recovering to close at 7,541.40, down 0.5% but — critically — above Friday’s crash low of 7,527.56. The second defense of the level that Friday’s liquidation established is underway, and […]
The seventh test was one too many. Bitcoin broke decisively below $80,000 on Thursday, falling to a low of $77,737 before settling at $77,775 — the first daily close below the level since before the October range began. The floor that had been defended seven times over five weeks, that had anchored every bullish structure […]
Every correction lives or dies at its retest. On Friday, the October correction faced its retest — and survived. The S&P 500 fell to 7,612 intraday on Friday, within 47 points of the correction low at 7,659… no — within a whisker of breaking it entirely. Then, almost on schedule, the buyers arrived. The index […]