This is the update for you, our stakeholder. Our market looks very intact for upside and may be for the next week of unloading big figures. However, the upside is now very restricted, which means the deviation is now skinnier and skinnier. This very likely to point to a big move for correction. Even though every time it pulls for 100ish points, it quickly recovers soon after. This feels great for bull but the sentiment improvement for bull market is too soon to say.
Overall, it's up 600 from our last analysis. Target Reached. For now, Set up for Short is more rewarding than ever. That doesn't mean to short NOW; but it's very clear that we can look for an attractive short rather than 50 or 100 point upside due to optimism and FOMO during earning report.
Please follow strategy and rational strictly. Let's solve the market. ty Cheers
Trade active
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It's on moving. That's the event I mentioned. This is a warning move, not the top yet. Everything will be easily recovered until the final release on 27th July, Cheers.
Trade closed: target reached
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That's the quick recovery move. we took the panic as advantage. and its nicely sizable profit. Cheers
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As I mentioned, the market will be sharply recover until the last call of 27 July. So don't miss any news from this on and its still safe to get long but not so long.
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Due to the low volume, it is easy to repair. According to Fibo, there should have been a correction to 14400-14300-14200, but it didn’t happen.
Do you think the low rate of increases could give rise to a real correction?
Large round numbers like 15,000 are predominantly no reason to improve, but rather strengthen investor confidence.
Anaphie
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@uhljarrobert, thank for your question.
Talking about volume, There is certain of nuance around volume trading. Someone might interpret it as low trading, low demand, and so does the price is overvalued. However, this is deadly incorrect especially in upward trending market, where the low volume is actually sign for no panic trading, no speculation and hence, the solid price for setting further upside move. Likewise, the spike in volume in the trending market is rather indication for rejection, where the panic trading betting against trending direction is covered soon after. So in short, whenever seeing a spike in volume, that's not a good sign. This is due to the majority of speculative move is for short term outlook, which is very likely to be reversed when the target is reached .i.e. the last September.
Secondly, "the low rate of increases" you said I assume you mean a slow moving up. This is true for all the history of the market. The higher it goes, the worse it could fall. However, the tipping point is almost impossible to know (could last up to 2 years from now) until there are series of events, one after another to verify the top of the market.
That's being said, I'm not pointing to the top currently but there is a few certain that all of trader knows that 4400 S&P and 15k NAS are mostly the target at the moment. In other words, there is a huge amount of limit order on these milestone. So there would be a spike in volume expected on these levels and the pullback are very highly at time. The magnitude is soon determined by couple days or weak after. The market is not going anywhere, you won't be late. when the move is verified, we are now on the very bright side of the bet. so be prepared for cash for the events, not equity at the moment.
Hope this will clear out most of your points. have great trading day. cheers.
Due to the low volume, it is easy to repair. According to Fibo, there should have been a correction to 14400-14300-14200, but it didn’t happen.
Do you think the low rate of increases could give rise to a real correction?
Large round numbers like 15,000 are predominantly no reason to improve, but rather strengthen investor confidence.