Last night, I forsee a possible major rally in BAC. However when I woke up in the morning, I saw a different story. The price plunged more than what I exepected. Quickly, I went to search for more clues and answers and found out that the selling might not be all over yet. Looking at the charts attached above, BAC must rally away from the danger zone today or else the uptrend shall be negated. A further breakdown today, I would cut my losses small and watch for the next opportunity. Let's watch how much follow through today after last night's bearish activity.
Ronald K
