Hello, about 10 days ago I tried to see which whacky push we would get next and I was expecting the strong push to 3680 before a retest to 3524ish and we fell close to those targets by the end of that week. After looking at all the chop for the this week I have been trying to make sense of so many factors pushing and manipulating the market and sentiment of traders, however that is much too much to discuss here alone. First off, is the Bullish Divergence (marked in yellow) we have via the RSI and Price signaling a higher zone is coming soon. So, I can say that as of now I am clearly leaning toward a retest of the 3480-3503 zone over the course of the next 48 hours. If we hit that lower zone (by week's end) we will have a clear picture of the sustained push up to 3750 and potentially even higher. If this does fall into place over the course of the next two weeks, expect even the most faithful shorts to capitulate on the push up. This outlook will be rejected if a break above 3618 is regained and used as support, and if this is expect the leg to 3750 to be choppy much like the last two weeks. Whatever the road is, this market will get 3750 before any steeper downfall. It is there I will meet you again to revisit what we have learned trading. Remember to always trade smart, set stops, manage risk, and DO NOT take trades based off anyone's opinion other than yours. Only YOU know what you can risk. Trading is an emotionless business transaction, if you see it any other way it will eat you alive.
Comment:
nuts that the morning of the 24th gave us 3618 and used it to support the rest of the weeks action. The road to 3750 is open, but choppy. Check the new pinned idea!