I'm seeing the rising wedge (usually a continuation pattern) with a breakout to the upside in the QQQQs but so far unconfirmed by the SOX (or spx) which has been a great tell for the last year. Could be a false breakout in which case we will likley go down hard and fast and break through the bottom of the wedge and indeed continue toward the lowswhich should not hold. Risk reward here is good being long NQ with a stop below the lower wedge trendline, with a lot of cheap OTM puts incase this is a false breakout. This is obviously happening with the backdrop of the ever growing stimulus package and whatever the announcement for the bank fix will be next week. Improving PMI numbers here and abroad today,an uptick in China, and lumber limit up re just some signs of an uptick in economic activity. As we get closer to pri9ce equilibrium (as prices readjust to new level of demand it is to be expected that economic activity would start to pick up, right now the signs could just be a bounce but if economic activity continues to uptick would be confirmation of a bottom).
dow up 80, behold the genius of the trad3r which should never be questioned again I see a rising wedge of support for trad3r, with a breakout of worshipping adulation
lol u suck the weekend brought more upside. And there will be more this week. No more shoes to drop. Just buy all you can and make $$
Funny. A few days ago you were crying like a little bitch when the market was tanking. EMOTIONALLY UNSTABLE!
Markets giving up gains.... Im looking for the break to new lows by end of FEB early March, if the bulls can hold this market up above 8000 for the next few months ill be really surprised.