Pretty clear lower highs and lower lows as we entered last week until the battle at the 50 day began. After more whipsawing after the FOMC minutes were released Wednesday we finished down for the day, then Thursday we rallied back over the 50 day and confirmed that move Friday rallying all the way to the 10 day sma before finally running out of gas. Friday triggered a buy signal for me on $TSLA $FB and $SSO. We will see Monday if the market can follow through or the fear about a war with Syria takes us back to the 50 day. This little short term downtrend back to the 50 day was very orderly and we picked up plenty of support to rally back to the 50 day quickly after it was lost. The equity market played out last week as being a bouncing ball instead of a sinking anvil. Low volatility for the week as well to give the bulls more confidence. This nice little curved price support action and bounce back over the 50 day has me on the bull team again. This whole little move played out as nothing but a logical re-tracement at the 50 day and bounce, all time highs back to being a high probability again.
