Why not? It shot up
I would expect some hysterical bull buying action tomorrow now that we have finally closed above the down trend line.
All I remember is "the plane, the plane!"
I was looking at the below and thought a reversal at the 0.5 fib 3935 level would make a nice H&S on the 4 hours. The hourly RSI was also quite...
I think its about 4-5 points over the 0.618 retracement.
In about 30 mins I reckon we will see the formation of the SPX 4 hourly right shoulder of a H&S. Then a drop.
Wow Tech is really flying because of the layoffs
Are they trying to make an accurate claim to boost their ego? Or are they trying to encourage sales to boost liquidity so they can buy more? If...
If something has been so "82%" of the time previously, does that translate into a "probability" for the future?
Yeah lower would make sense too. Or higher if we see a bounce which could also make that level the low of day. My logic for it being the closing...
I think the day might close right around where we are right now - ES 3964
The FTSE100 has a totally different make up vs the S&P500. More energy and commodities focused stocks. Also, where a lot of countries have been...
Bounced straight off it the moment i posted
If we close below this level today then that is bearish enough for me going into tomorrow
If the chart was flipped, would you short just above a major trend line?
Agreed. But that's what the patterns are designed to do right? The caveat is that the market could still turn around today.
I cant yet. My comments were more on the overall direction. I still think tomorrow will see the bigger move down.
The speed at which we have shot up, the RSI on the 1 and 4 hourly is high, we are approaching a major fib level, we are approaching a major trend...
Agreed. And the 3973 SPX level is a 0.618 resistance level too. I am pretty much as short as I have ever been right now in terms of position...
So not the usual pump and dump we have been seeing recently then?
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