Gotta hold this neckline or it gets ugly very quickly. It's not only tech, the entire risk on trade will unwind fast. My guess is stimulus gets us back above if we do happen to peak below. Needless to say, it's slippery so act accordingly. Taking all PTP Trend Trader shorts all week. Will look to take the long trades after liquidity injection.
Thanks for the chart. I think as of today we are done with the head and shoulders... What do you think?
PTP_PriceTurningPoints
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@emredici, you’re welcome. Yeah, selloff was over done on multiple time frames and the other indices were not following lower the last 2 sessions.
To answer your question, we were done as of yesterday. We closed at an old high which is always an important place to look for support ( read Gann’s work).
You should sign up for a free trial to ptp trend trader at ptptrades.com. 1 hr and 15 min charts gave some great entry points the last couple of weeks.