more negative news hitting the wires

If WFC travels the 3.5% lower from the August monthly low, it will have also broken the May low of $50.83, and it's in this neighborhood that sell orders will exist for investors who have been long WFC since May and $50.83 is their break even point (or where they originally got in). As a result, look for additional selling pressure beyond the May low. In the event of more negative news hitting the wires, the market may try and retest the bullish gap from November 2016 circled in yellow on the chart below. bikini swimsuit This reminds me of the gay marriage debate in the mid 1990s, where people were fighting over whether homosexuality was a choice or not. The science was clearly on the side of it being natural and often identifiable from very young ages. 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