The debt ceiling has provided many key pivots and trends for the past few months.
The most recent 4665 that broke the bull trend as the fed become hawkish that coincided with another debt ceiling decision.
When biden kicked the can to feb on the decision we saw what I think was the bottom and what might be a trend based retracement using the 2 key points of the debt ceiling decision.
I included some other key moving averages and pivots that may prove useful.
Keep in mind we are approaching a triple witching in 2 weeks.
What I think will happen is a retracement back to the major resistance from November, a pull back dip for the triple witching, then a christmas rally to all time highs.
After that its anyones guess. My guess is a major correction between Feb and Mar of 2022.
Not Financial Advice. Just a 007 journal!
The most recent 4665 that broke the bull trend as the fed become hawkish that coincided with another debt ceiling decision.
When biden kicked the can to feb on the decision we saw what I think was the bottom and what might be a trend based retracement using the 2 key points of the debt ceiling decision.
I included some other key moving averages and pivots that may prove useful.
Keep in mind we are approaching a triple witching in 2 weeks.
What I think will happen is a retracement back to the major resistance from November, a pull back dip for the triple witching, then a christmas rally to all time highs.
After that its anyones guess. My guess is a major correction between Feb and Mar of 2022.
Not Financial Advice. Just a 007 journal!
Comment:
seems what that meant for RTH was even more of a rally.
I'm assuming this meant most of retail were positioned for a continued sell-off and when futures sprung overnight everyone rushed to close/cover short positions causing an even greater rally through the morning.
personally, I'm adding some hedging to a downside retest of 4610-4665 that continues to provide gaps up and down each night for the past week.
I'm assuming this meant most of retail were positioned for a continued sell-off and when futures sprung overnight everyone rushed to close/cover short positions causing an even greater rally through the morning.
personally, I'm adding some hedging to a downside retest of 4610-4665 that continues to provide gaps up and down each night for the past week.
I don't know what this means for RTH.