1️⃣ First off SMASH that LIKE BUTTON & Give us a FOLLOW for DAILY ANALYSIS! ❤❤❤
(Overall Market Sentiment) 🐻 Bearish
- I have been tracking this big boy heavy lately as I do hold a short from 26,990 area. I let the most recent coercive way push back up and held onto my position because I wanted to see if the longterm break of support would turn into new Resistance. You can see we shot back up with some engulfing candles but now seem to of have found some Resistance as the candles begin to compress and start to Crossover red.
- Let's also take into consideration that all of thr ema dots are beginning to shift back towards red. This is my play to try and capture a massive swing on the dow, I don't look forward to selling anytime soon.
@MajorLeagueTrader Thanks! I agree, I think we try to backtest the bearish wedge before the move down. I think too obvious to short right now, big guys might want to get one more melt up, you know them, try to take all the money :o
Retail finally getting recognized for its horrendous performance, imo. Dow vs. Nasdaq, Media vs. Fed, wonder who wins? Traders definitely lose though, so I'll be taking the first part of the week off. Godspeed major league, keep the streak alive ✊