feels like they`re getting ready to rip this thing ^.....& walk it up to the fed announcement.....difficult to find entry to work in conjunction with stop.
70/75 on the horizon?...30 min wedge says it`s likely if we stay range bound. with a pause/reaction at 55 pivot...wich is also the 50% fib from friday hi/today lo....so far. will need to trade above 55 with strength to get there.....if we do,i`d be looking for a hell of a ride down to 25 +.
If anyone remembers around a year ago what happened during a Fed meeting after a long period of declining prices, you know that the shorts may well get bent over. The best short squeeze of the year might be coming up, imo. Not today, probably. Today looks more like a range day, with very wide movement. 1455 is the pivot and the overnight HIGH. That's resistance today.