Some months ago the long idea (below) identified the February life cross and the several others before it that printed in the decades past. The last life cross is shown circled in orange above.
No one was believing the long idea at the time (read the comments). Market is now up 12%.
The news says Dr Michael Burry has taken out a 1.6 Billion dollar bet against the stock market. That’s nice.
So. Lower lows is it? Time to go short like Michael?
No.
Why? The chart stupid.
1) tradingview.com stock market ideas, majority short ideas currently published. Remember 90% of the market participants will lose money. They love it.
2) In a bull market, following a life cross, there is support on the 50-SMA as shown with the blue arrows. Yes sometimes price action can collapse to the 200-day. But that will probably not happen. For one, candle bodies are not closing below the 50-day SMA. Confirmation MUST first occur before action. It is emotional to do otherwise Dr Burry.
3) Look left. Price action tested resistance twice before a breakout, or so it appears. Look left all the way left to August 2021. This is no small resistance, this is huge market structure.
4) The breakout is now looking to confirm support on past resistance. A resistance that is two years old, to the day.
For the bulls, you do not want to see price action close a candle body below 4400. If that happens then 4150 will likely be tested.
For the bears, you do not want to see past resistance become support, currently 4450. If 4450 confirms support, 4800 is next and quickly so.
There are a couple of stock market opportunities in the market right now that seem incredible as this volatility takes hold, but will share them somewhere else.
Any questions, just ask below!
Ww
Life cross
No one was believing the long idea at the time (read the comments). Market is now up 12%.
The news says Dr Michael Burry has taken out a 1.6 Billion dollar bet against the stock market. That’s nice.
So. Lower lows is it? Time to go short like Michael?
No.
Why? The chart stupid.
1) tradingview.com stock market ideas, majority short ideas currently published. Remember 90% of the market participants will lose money. They love it.
2) In a bull market, following a life cross, there is support on the 50-SMA as shown with the blue arrows. Yes sometimes price action can collapse to the 200-day. But that will probably not happen. For one, candle bodies are not closing below the 50-day SMA. Confirmation MUST first occur before action. It is emotional to do otherwise Dr Burry.
3) Look left. Price action tested resistance twice before a breakout, or so it appears. Look left all the way left to August 2021. This is no small resistance, this is huge market structure.
4) The breakout is now looking to confirm support on past resistance. A resistance that is two years old, to the day.
For the bulls, you do not want to see price action close a candle body below 4400. If that happens then 4150 will likely be tested.
For the bears, you do not want to see past resistance become support, currently 4450. If 4450 confirms support, 4800 is next and quickly so.
There are a couple of stock market opportunities in the market right now that seem incredible as this volatility takes hold, but will share them somewhere else.
Any questions, just ask below!
Ww
Life cross
Trade active:
Hope you took advantage of the opportunity. "Buy the dip" is back with a vengeance.
April 26th was the last time a high probably reversal signal confirmed. Look across the media, papers, tradingview.com ideas, everyone is short.
What will you do? Take a leap of faith or become an old trader filled with regret.
Ww
April 26th was the last time a high probably reversal signal confirmed. Look across the media, papers, tradingview.com ideas, everyone is short.
What will you do? Take a leap of faith or become an old trader filled with regret.
Ww
Trade active:
Price action rallied to 4540 the last time the above signal printed.
Guess what just printed again?
Guess what just printed again?
Trade active:
Trust everyone is seeing what I'm seeing cause there remains a lot short ideas out there..
Now if 4550 is does offer significant resistance.. if the market does not tuck tail and run for lower lows.. then we're going to see one of the strongest short squeezes the market has ever seen those past 10 years. Remember the Put contract market is considerably overbought.
Now if 4550 is does offer significant resistance.. if the market does not tuck tail and run for lower lows.. then we're going to see one of the strongest short squeezes the market has ever seen those past 10 years. Remember the Put contract market is considerably overbought.
Comment:
Testing GRM support...
Trade active:
GRM support was confirmed a week ago. 5 Wave correction now complete.
Trade closed manually:
Wave 5 correction confirmed, dead and buried.
Had a few folks tell me I should wait for 2500. Okay then... you just wait. And wait...
Had a few folks tell me I should wait for 2500. Okay then... you just wait. And wait...
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Signal from August 18th was spot on ;)
Daily