Why I feel it is.... Since September, CMG is selling off (slow mover) ....
I think you can see all the reasons why.
Confirmation for the next downturn will be a break of the wedge, a break of the level in green. That would be your confirmation.
Comment
⋅
This is one trade I did close out.. I was up $60 in a day or two and said this is coming down to fast so I closed it out. I will be watching for re-entry. The downside is tremendous here.. I just am looking for the ideal entry and with it coming down so fast its bound to have some upside short term. How much? That's what I will be watching.,
@Original_Stock_Whisperer im calling 448 monday or 446 and the rest of the week we come all the way back down
Original_Stock_Whisperer
⋅
@lavontakeyamon, I kinda like that... see UVXY? If you believe in that... a little down on UVXY and a little up on SPY and then switch a roo...
UnknownUnicorn32969573
⋅
@Original_Stock_Whisperer, bulls need to get a ruler and draw a resistance line .... there was a gap at 446 that the market has been wanting to fill .... whenever spy hits the resistance line, the falling wedge pattern and false breakout is complete .... and then we start back falling .... if this was a true breakout, spy would have closed the next day on thursday in the red to show a pivot on the charts ..... this was a breakout for fools .... bulls will be smoked next week .... bears got the smoke this week ... next week , their turn
Original_Stock_Whisperer
⋅
@lavontakeyamon, oh yeah.. anyone buying in now and going long is an absolute fool! Reminds me of my friend Michele that is constantly smoked. She buys when she sees the shit going up and then wonders why her account is down 60% . lol. But I am curious where do you see things bottoming out next week. Whats your number?
@Original_Stock_Whisperer, in order to beat these wall street fools, u have to do the opposite of the news .... MONDAY they was screaming NASDAQ SPY bear market territory .... now they are saying BUY THE DIP , BUY THE BEATEN DOWN TECH STOCKS like Baba and Apple ... id be trying to sell that shit faster than u can blink ... bulls are finna get fucked with USA petroleum next week
Original_Stock_Whisperer
⋅
@lavontakeyamon, I havent even read or looked at a thing. Interesting to hear they are saying this. Not surprised at all. I even get those emails from Fidelity (one of my brokers) tune in for a live chat about the market. No thanks! lol Ill watch the charts. Apple you know is going into the double digits. Just wait for that wedge/ channel to snap. The only question is exactly when. April? July? its coming. I agree with your 420 level.. I actually like the teens (the start of the breakout, it forms a wedge as well)
UnknownUnicorn32969573
⋅
@Original_Stock_Whisperer, Spy just did 30 points in 4 days kmsl .... any intelligent person should know something isnt right ... it didnt even do this in a bull market ... but ill have tissue for bulls next week and a diaper to wipe the blood off their behind
Original_Stock_Whisperer
⋅
@lavontakeyamon, haahaha... they really wanted to wipe out all those put contracts. Such a bunch of scum. They truly are. Anyway, this is where I see us coming back to and I think this is what you mean as well. Short term. Cause there is a whole ton of downside in the cards.
UnknownUnicorn32969573
⋅
@Original_Stock_Whisperer, exactly ... draw a trendline of resistance that touches 479, 460 , and 448 and u can see where the rise will hit a peak and start a fall ... the volume is decreasing as the numbers move up .... meaning all this push is being aided by the shrimps ... big boys have already sold .... 451 may even be on the cards .... but thats a stretch .... 448 is strong resistance