Huge bids at .65
Did anyone watch the trading action a few days ago? Some huge bids were placed at .65 and left there for days until taken out. This means the market was more bearish than bullish at that point.
Anyways, my personal experience, once the huge bids are gone, the SP will go down 20-25% before a meaningful bounce.
BUT, since NLN chart setup still looks weak, even at .57, I suspect another round of huge bids in the .50's will play out similar to the one at .65.
My expectation: 0.40-0.50 before a meaningful bear rally occurs...