The long awaited "Dip" has begun. Note how the first Fib retracement level at 38.2% provided support and from which MSTR has now bounced about $50. Insofar is that dive and bounce all took place in less than an hour, there is not enough price and time to confidently call the "dip" over. Expect a testing of $1,000 and maybe a further dip to $925 later this morning. While we wait there are other names in our stock universe to track, and the possibility of a similar "dip" unfolding in the broader market, as DIA, SPY and QQQ have all turned negative and VXX/UVXY are turning up.
