Nice trade. NQ has been crazy volatile today....I am seeing 5-10 pt moves in a second. Also...Robinhood traders trying to get TSLA back to their purchase price of $1700. Good luck with that....LOL. Some lawyer should start a website: www.robinhoodbankruptcy.com
Long crude oil...It might work out.....as WTI has refused to go down for months now. Only problem is this: production increases are coming up..... https://www.cnbc.com/2020/07/15/oil-markets-opec-meeting-us-crude-inventories-in-focus.html Also, there is the issue of shale oil coming back online. Shale oil production can be profitable above $40/BBL.
Fairly normal activity today after an overnight bump. A lot of back and fill. I expect to close near highs. If so, that will be a great indicator of how strong thwe market is . No one wants to be short tomorrow in that scenario I would think.
This afternoon is definitely "torch the shorts" price action as every PB has been bot since noon. Bigger issue is: will we close above 3220 ?
a larger HS with a lower rt neckline - 5/15 min is potentially forming..therefore 3230-3233 needs scoring again before nullifying HS..