Looks like price can break up out of down channel. First Resistance at 4220, then stronger R at 4300. Target in the box. 200 pips = 5%.
Been oversold badly for weeks. Time for relief rally; a technical breakup. Once confidence returns the bullishness could get quite furious.
Maybe you don't feel real good about buying now, that's reasonable. You don't want to get caught short in a massive pump either.
Expected timeframe ~ two weeks IF price mimics last rally, went up for ten sessions in March. Small caps moving up, DJI leading.
Play it in TQQQ, UDOW, SPXL, TNA; SPY / QQQ / DIA / IWM calls, if you dare. Not advice; just another WAG: GLTA!
Been oversold badly for weeks. Time for relief rally; a technical breakup. Once confidence returns the bullishness could get quite furious.
Maybe you don't feel real good about buying now, that's reasonable. You don't want to get caught short in a massive pump either.
Expected timeframe ~ two weeks IF price mimics last rally, went up for ten sessions in March. Small caps moving up, DJI leading.
Play it in TQQQ, UDOW, SPXL, TNA; SPY / QQQ / DIA / IWM calls, if you dare. Not advice; just another WAG: GLTA!
Comment:
Here it goes!
Comment:
Nice one! Holding five bull spreads overnight. Not chasing; often after a breakout we see a pullback to the .38 - .62 fibo. This so strong moving from oversold probly won't reset much.
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Gonna get higher imo. Breakout to upside. After the covid crash breakout there was a .62 fib pullback next day provided entry for the massive multiday rally... when the shorts unwind this will pump like Hell. Do not be short here imo.
Trade active:
Closed longs on quite a gap, try a small short for ?gapfill? Might get a partial gapfill imo.
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Back in cash. Do not chase this retail rally imo. Two gaps to fill, could be a sudden surprise next week, idk.
Apparently most of the money flow is retail FOMO atm. Smart money is sitting on hands laughing.
Apparently most of the money flow is retail FOMO atm. Smart money is sitting on hands laughing.
Comment:
At a critical juncture the breakdown point from 5 May, a former support turned resistance. Might consider closing longs could get rejection or a pullback before higher from this price.
