We are right here at the area that I believe will be a springboard for higher prices. 2714. I set a large stop which is just to be considered a catastrophic stop. In other words, I do not expect that stop to be hit . I expect to either take a smaller loss or have the market move significantly in my favor. We are already near overbought on intraday so I have to expect some noise pullbacks.
We are still within the 2710-2714 area here at 2711 and so we are still ripe for a move upwards. As indicated prior, I can also envision a pullback to 2705 and then a strong move upwards. All time frames are long.
Nice short entry at 2705, I think. Looking for a move below 2700. 2690, maybe. EDIT: 6 minutes later. Maybe not. Last retrace was around 8 points, so shouldn't go much above 2708 if we are to go lower.
Daily & Weekly are where it`s at, as we continue to build out the Diamond Top & into our Apex on Spooz range of R @ 2740-50... S 2680-60-50... the break of the prior swing lo of 2650 will commence my anticipated 300 Handle slide/ 3,000 pt Dow slide. Dow is teetering and can easily lead the slide... Patiently awaiting the "Turn"...... Heavy Heavy
For you Perma Bullys out there... keep your scrotums tucked, rectums puckered & Stops tighter than a virgin on prom night!
all out 2710 at resistance +5. Not confident on breaking thru. May re-enter when it hits 2710 from above.