if it's a risky buy, is it by definition a less-risky sell? Goes without saying I have no idea which way it will go - but what I do like is the idea of stops below 285 being triggered like domino's. Just seems there's potential for a violent down move here. EQT - is this a good buy opportunity in the midst of a long-run bull market? EXC - have we just seen a giant inverse head/shoulders pattern signalling a solid buy? HRS - does the recent resilience prove this is an easy buy? OKE - is 40 the floor and launch pad for further big gains?
Getco, Virtu, Hudson River Trading, and other HFT shops know exactly where the stops are. The charts won't help
I can't speak for what Getco etc do or do not know, but I stand by what I said; I believe charts give solid clues as to where other participants will puke. I'm not talking about on a sub-second timeframe here either - hence the weekly charts.
There is less resistance on the down side. However, retail has been posting good numbers on a fundamental basis. The previous topping formations on the upside will be a resistance point along the way. Also, the long term upper channel line which you didn't draw is another resistance. Implied move on jan30 options after earnings is 30 bucks.
Will update all of the charts mentioned here, eventually (giving them room to run bearing in mind these are weekly/monthly timeframe). AMZN in particular was on my mental watch list and I did notice price increased on the back of positive results - how could TA have assisted on that score? I don't see that it could have. A few more charts of note: