With the Feds stimilus pumping through the markets veins, is the recent rally legitmate?
before I would feel confident in placing any lengthy long positions we would have to pass a major level. I believe 25,000 on the Dow is the line in the sand. its a major psychological level, with structural S/R and it is right under the 61.8 fibonacci level. if we can break AND hold above 25k I believe this rally can sustain, but the weight of the evidence points to the downside
Is this a dead cat bounce? will the rally sustain? let me know below
Happy trading!
before I would feel confident in placing any lengthy long positions we would have to pass a major level. I believe 25,000 on the Dow is the line in the sand. its a major psychological level, with structural S/R and it is right under the 61.8 fibonacci level. if we can break AND hold above 25k I believe this rally can sustain, but the weight of the evidence points to the downside
Is this a dead cat bounce? will the rally sustain? let me know below
Happy trading!