A good pre-breakout is pure coiled spring energy. It looks tight, wound-up, almost... boring AF. Then snap! All that pent-up energy gets violently released. Volume erupts. Price explodes past resistance like it was never there. Could that be it?
Feels like there’s still a little more juice left to squeeze from this market before she finally trips over and falls off the cliff. Definitely one more week of upside. I'm guessing 300, 400 points higher from here. Then splat—straight off a cliff, face-first, with style.
No, that's not it imo. The way I see it, the mkts have gone past (below) the point where institutions are chasing. My theory, there are times technically when TA doesnt operate effectively, (many false signals) that's when in a bear mkt you'll get small dead cat bounces as the trends continues to fall. Sentiment only changes in this scenario with time and a rounding bottom (not vee). Can take 3 months. So my call from a swing traders perspective, shitty trading conditions for a while on SP500 etc and instos will shift their attention elsewhere, eg metals, defensive stocks.
And with the way you’re running your mouth in circles and shadowboxing ghosts, it won’t be long before you earn that extended forum vacation again. Any day now. Just waiting for that "Account Suspended" banner to light up.
I did not trade. Was looking for a short, But SPY can prints 540-550. Why would I short 535 ?! Nope … I am waiting for my turn, Too late to buy. Too early to sell. For my taste. Good PPI. Fed said ready to stabilize market. But the bulls can’t really push this up. Likely another dead cat bounce. Wish you all a nice weekend.