Traders, Please be aware of the market conditions. We know that everybody is waiting for Santa's rally. But due to Corona as most things were different this year, Santa may not come for his rally. At the moment the price action is suggesting a possible fake breakouts on all 3 major US Indices i.e. SNP500 (SPX500), NASDAQ (NAS100) and US30 (Down Jones).
Do not trust that the rally of 2020 will last forever. Nothing does. So be careful. A sudden shift can come by end of this year or the next. Few hedge fund managers have also bet against the markets for a bad ending to 2020 rally. So beware of this.
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Take care and trade well -Vik
____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
100% Vik. Folks are buying heavily into stocks... wrong time indeed.
vikinsa
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@elaishar, yes indeed, never buy at the top and never buy expensive.
KU13HAL
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To high to buy especially when its been the highest too :)
vikinsa
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@KU13HAL, That is true but you never know. Markets can be very irrational for a long time as we have seen in 2020. But we do not buy anything which already very expensive so I personally will not think of buying at these levels.
qstwee76vp
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Thank you vik. I have a question will nasdaq go down today or do some corrections or it will hit 12600?
vikinsa
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@qstwee76vp, both can happen. We need some movement to be able to assess further
jstraders
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Great Analysis as always. Is the market sell off before year end or do you think there is more room for upside?
vikinsa
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@jstraders, There can be a bull trap (a spike) to the upside. I will be very careful of any upwards movement and will wait for a retest and confirmation before going long. Else I will be bearish and plan to take short trades.
ConConMcG
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Thanks for sharing Vik. The Fear Greed index is screaming a sharp sell off.... but I still think there is another leg up before a bigger crash in Q1!
vikinsa
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@conormcgurk1, yes there can be one leg down followed by a bull trap and then .....