Anything can happen, but the market came within 9 points of its HWB of 3/8 to 3/21 ... Seems that somewhere close to 2796.25 ought to trade before the rally resumes if that what it's fixin' to do. If the market is strong, the HWB probably won't trade but will be front run by a handful of ticks +/- , if weak, the HWB won't hold for long. NQ printed a HH and a LL Friday than Thursday. A little narrow range consolidation might be on tap, but I think lower prices soon most likely. I do not mean lower lows than the 12/24 low. I mean a decent pullback to set up the next favorable long entry, perhaps in the 2590's. IMO, most likely we are in a bear swing in a bull market. In my opinion ... not sure why anyone would care to hear my opinion, but it sure sounds sweet to my ears
I've done that before actually. Flipped a chart and then mirror imaged (inverted) it on a stock that was dropping to view it like a momo stock rising. It works pretty well for setting target levels. We are so accustomed to watching rising stocks and setting levels for them, it makes doing the reverse easier from a purely visual perspective. Try it sometime.
Still long. Will add and test a LONG 2800.00, stop 2785.00 Anticipate 2823.00, if expectation is met, anticipate 2900.00