Description
⋅ The previous Ascending Triangle Pattern was bang on target.
The triangles base support is now the Resistance.
The price has no Trend.
Zoom Out to find bigger patterns or trends.
Short squeezed, a lot of stocks opened on an island.
After rejecting 200 MA tech is sitting perched with only a gap down or up.
Inflation and rising Energy costs are pinching pockets.
Credit rates are eating into bottom lines.
Sitting Right up top for an Island Reversal with SPX.
Seems like it would be a good place to buy a straddle.
NVDA is down 4.6% after earnings.
After closing, AMZN announced tonight it will be shutting down Amazon Care.
I’m going to lean bearish for direction.