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Underlying:NAS100 Time frame:1D
Posting this at the start of the week so people have my thoughts. We have just broken out of the wedge formation however we have not done so on the MACD. This scenario on the MACD has not happened too often so I am excited to see how it acts. I feel once we have the MACD breaking out of the range I have drawn, it can then head lower in a "head fake" move.
Trying to keep this as simple as possible, we all know how strong the stock market has been as of late!
My Thought: TA is USELESS with this market. The Fed is manipulating it (even the terrible payroll last week...couldn't make this market to drop) ... The Dow, in the last 2 years, opened more Gaps Up than in all its life....Same thing the S&P 500. The Vix got the lowest level for a so long time that never happened before...This market is not normal...this is clear if you consider that the GDP grew less than 2% every year... A market like this with a so high P/E should be normal in a country with a 4% /5% GDP.....
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@giloc, it definitely is craz times we live in!! :)