Hit the trendline from the ATH today and closed the final gap from the April decline... Now looking at resistance from April top, the median line from the channel and peeking into overbought territory on the daily. Will probably make some kind of double top here so I'd at least wait for some kind of bearish divergence on the hourly chart before entering short.
Bearish bat reversal zone extends from 205.75 to 211-ish.
Getting closer to a new ATH or possibly a double top.
chinawildman
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@hungry_hippo, yup reversed from the april top intraday... will likely gap back up to it or run up to it again by the fed meeting... hoping for some bearish divergence when that happens.
hungry_hippo
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@chinawildman, I'm talking about the top from last year. In any case, I would have taken a stab at weekly puts on that reversal pattern. Wasn't watching HD today.
hungry_hippo
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DOW components are all whacked up. Probably gonna jack this up to ATH, or at least try.
Fed meeting next week, the only thing that really matters.