Wow what a rally - from 3639 to now 4155!!!
Question is :
was this just a bear market rally and are we going to see another leg down....
Or is this a regime change and the start of another bull run to 6000 ?!
Although I have completely no idea :) , I do know where we are at now is a major indicator and inflection point IMO of what's to come for the remainder of 2022 for 2 major reasons.
1) MAJOR trendline that stems from 2018 - present being tested (white line) which price has responded to throughout 2020 and 2021 AND
2) 30 WEEKLY MA at 4200 which is a very important Technical inflection point often used to identify stocks' phases by Stan Weinstein.
A breakout above with continuation should trigger large inflows while any rejection or signs of weakness will have people running for the exits.
Very exciting next couple weeks! Keep in mind JPM has a massive collar on 4340C/3905P/3290P for SEP as well... and they usually don't lose (although they surely can rollll ) ;0
Cheers
Question is :
was this just a bear market rally and are we going to see another leg down....
Or is this a regime change and the start of another bull run to 6000 ?!
Although I have completely no idea :) , I do know where we are at now is a major indicator and inflection point IMO of what's to come for the remainder of 2022 for 2 major reasons.
1) MAJOR trendline that stems from 2018 - present being tested (white line) which price has responded to throughout 2020 and 2021 AND
2) 30 WEEKLY MA at 4200 which is a very important Technical inflection point often used to identify stocks' phases by Stan Weinstein.
A breakout above with continuation should trigger large inflows while any rejection or signs of weakness will have people running for the exits.
Very exciting next couple weeks! Keep in mind JPM has a massive collar on 4340C/3905P/3290P for SEP as well... and they usually don't lose (although they surely can rollll ) ;0
Cheers