By market reaction, I feel there is just too much short bet on the sp500 fall, and it can be a setup for a short squeeze
Not saying you were right or wrong. Just wanted some clarification. What you said didn't come across as you might have intended.
Not only that but there's clearly a MAJOR trendline, which would not be easy to cross. Be that as it may, we've already touched the damn thing 3 times and *usually* the 4th will give in. But that remains to be seen.
Well, I need to see how the market reacts to NFP first. But, overall, I do agree that we will go up before crashing down. However, as I've already pointed out earlier, we might even go up as high as 4400. It sounds bit optimistic, but you never know. Here are the posts I made earlier. https://www.elitetrader.com/et/posts/5742765/ https://www.elitetrader.com/et/posts/5742776/
Well I respectfully disagree, I think the 4080 area is the best long can do after that sp500 will fall hard and fast
Hey, it's just a personal opinion based on chart pattern. I ain't no prophet. Actually, no one knows for sure. We might even crash as soon as tomorrow and all this talk would be meaningless. Anyway, happy trading.