outlined are major S/R levels, I am looking for a "dead cat bounce play if the down side momentum can reverse from this level over the next few weeks. I would like to see either two scenarios play out rejection at 5980 or consolidation above 5980. Currently looking for longs if we can find a trend to the upside as a relief rally, entering short from this level is...
S1 looking for either break up ("dead cat bounce") or break down at this level, if the XJO rallies and has a Rejection at 5980 FLT is a short and will be in trouble. Or if we break S1 i'll be playing short till S2 as FLT has all the Fundamentals against it at this point of time.
Half position short on at 18.47 Overall market (XJO, DJI and SPX is now closing daily candles red) We also have global bad news catalyst of covid19 out break in the US I see next weeks trading session as a short, as confidence in this overall market rally should weaken. APT hit a daily exhaustion after a solid rally, I am now playing this as a "dead cat...
short at $14.17 Silver had a strong bounce as did the overall market SPX, DJI but it is now range bound still in a down trend on the weekly stocks such as PAAS are selling off as people don't want to have exposure over the weekend and are being more risk adverse. As we trade below point of control at $14.35 and have declining volume I anticipate that we will...
over sold conditions con ARU potential bottom formation I am long term bullish if the support can hold huge upside potential on a long call.
APT now range bound with bearish divergence on the RSI and lower highs target 14.95 failure of lower range support will look for longer term shorts.
Short target to 84.75 "short term intra day" then swing long for longer term trade monthly.
I have plotted they key support level all noted on DJI and the key zone that will indicate a bear market play and all possible targets.
To often I see people plotting sloping trend lines that clearly invalidate each other. This is a clean example of going back to the basics using Support, resistance and trend lines, the directions of the trend lines only change when the trend is broken just like support and resistance.