Ok I’m glad to see someone else is seeing the same thing!
the_sunship
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@BullRun4X, yes brother welcome to the dark side!!!
PTFun
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How much of the drop is because Michael Burry's short and perception of it?
the_sunship
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@PTFun, none, the chart was warning of a correction. Burry can read charts and saw it coming, that's all.
wickedpeterock
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Thanks for sharing! The one thing to keep in mind in the short term is theres a weekly/monthly trendline started in June 2019 that runs through the pandemic with strong support in the $138-$139 levels, essentially erasing the covid rally. This could likely cause some buying pressure, esp with weekly RSI so low. If that happens, we could do a short term rally up to $152 or $169, then drop. Basically catching retail traders with their pants down thinking its going to go to the moon.
the_sunship
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@wickedpeterock in a bull market resistances get broken, in a bear, supports get broken. SP under 3800 and that support will be broken