A drive back up to 7,000 will be quick but it may be short lived. I still think a challenge back down to 4200 is possible before the next major bull run. My long is in position from this V bottom to target 7,000 and then I just let it ride for as long as it would like to go. There is a lot of political pressure to recover the market, a hard recession will hurt a lot of voters and the US president sure isn't afraid of printing money and driving inflation which is good for stocks. I'm long from here but open for a full drop lower.
Trade active:
Long entry using QQQ
Trade closed: target reached:
Not quite to 7200 but the retracement is now complete. Time to exit my long and consider a short once I see a signal.
