From these charts, it looks like wednesday's low needs to be retested along with long term trendlines and resistance. It looks more down is in order than up. Although we are oversold, the bounce to come would probably be limited to previous trendline and/or resistance. At that point, will come the retest.
The timing of retest will coincide with the scheduled FOMC on December 11. I expect a "sell on the news" play to unfold in the next 2 weeks. Cash is king here.
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