Out on this rip...you got to love volatility! We may go higher but I am not a believer until we have green bar close with volume.
Why 3028? Is it a measured move? By end of January? I try to keep an open mind, but I have to say I'm skeptical towards that prediction. With business taken care of below today as expected, I can see a new up leg starting from here on the daily. Personally, I'd say we trade lower than today before we go higher though.
For you, even a market crash would be a cute little pullback. I've asked you this before and I don't think you've answered. What would it take for you to reverse this so called up trend? Are you looking at some kind of trend line on the monthly? Most other technical definitions would say that the up trend is broken. This does of course not mean we enter a bear market or that we're crashing. We could be consolidating before resuming an up trend and new highs. Or we could simply enter a longer period of consolidation. Regardless, I think it's safe to say that we're not currently in an 'upmarket'.
In order for there to be more significant pullback or a bear market, we would have to see Gold on a bull tear. ----And right now, there is no evidence of rush to safety.
By the way - @volente_00 : Any predictions on volatility? I would very much like this volatility to stick for a while. I assume most other day traders agree.
That’s the next shoe to drop (or in golds case pop)...you’re playing with fire right now. With current mkt structure we could easily wake up one day limit down. I hope you are either heavily hedged or trading around your long position.