What can I say, this raging Bull market has got everyone in Euphoria.
S&P has rallied above the 4k price point sharply, however the volumes are low and declining!
Who are buying at these levels? Retail.
There was a lot of consolidation right below the 4k price point which should serve as strong support.
This is why my strategy for this trade is to scale down and take profits as shown in the idea.
good luck and be safe.
S&P has rallied above the 4k price point sharply, however the volumes are low and declining!
Who are buying at these levels? Retail.
There was a lot of consolidation right below the 4k price point which should serve as strong support.
This is why my strategy for this trade is to scale down and take profits as shown in the idea.
good luck and be safe.
Comment:
Trade active
Comment:
The trend line has been broken and we are testing it.
Notice the volume spike up here because this is where trend followers exit positions and swing traders get in.
Notice the volume spike up here because this is where trend followers exit positions and swing traders get in.
Comment:
Price was rejected at the channel as we are expecting.
the prices need to keep pushing down so we can get a lower-low and confirm the bears are in control
the prices need to keep pushing down so we can get a lower-low and confirm the bears are in control
Comment:
It's taking a while for this trade to realize but we are seeing some weakness today.