~~ 60m Major Markets ~~ intraday weak bounce on Friday after historic 10% sell-off in 2 days. While we saw a weak bounce after the severe sell-off, the price action provided some stability finishing off the week with a hope in the midst of extreme bearish sentiment.
A stream of fundamental economic news is also very bearish; and, collapsing financial markets at this point certain adds more despair to the pessimistic conidtion.
At least, 60min price action momentum is showing a sign of up-momentum as indicators are slightly turning up. In this volatile environment, anything is possible until we see lower VIX and economic news stability showing signs of good planning for how to revive our falling-apart economy.
Let's hope that we will hear some good, hopeful news from the Administration.
As noted before, we have potential Inv H&S formations with successful up-momentum after breaking the noted rising wedge formations. Let's see whether we will see price support in the midst of scary economic news.
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