Looks like it broke the resistance channel line after all, just took like a dozen tries.
Very bullish, MFI touched oversold, so futures pump coming.
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The algos are gonna pump bad news again tomorrow, employment numbers probably suck, but bad news is good news when the algos are pumping.
The news will be something like "poor employment numbers reduce the chances of interest rate hikes", lol. This market is so stupid you have to think like an idiot to keep up.
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Note: 4 day short squeeze rule is back in effect, no shorting until Tuesday morning at the earliest.
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Looks just like last Thursday, even garbage melting up now.
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Futures must be pumping because PTON is going up.
You can't honestly believe there are retail buyers or even fund managers buying that garbage. 4 day short squeeze rule is definitely in effect.l
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NDX broke yesterday's high and small caps broke Friday high.
Expecting people to pump the breakout now. Of course you guys already knew it was a breakout because it broke the channel line.
Daily close shows very strong bulling momentum. Let's load our guns for a gap fill.
RantingPatriarch
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check this doom and gloom for the 12800 level
hungry_hippo
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@RantingPatriarch, your channel line looks pretty arbitrary, where are you getting your slope from?
RantingPatriarch
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@hungry_hippo, oh it was someone elses idea. if you click the graph it takes you to their page
hungry_hippo
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@RantingPatriarch, That person drew the line because they're bearish. Completely arbitrary line. You can see a very distinct channel slope where I drew my green lines, the market has a certain slope to it because of the algos.
rickyrt
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@RantingPatriarch, that guy also posted to short oil to $75 USD and short the EUR against the USD - we all know how that one turned out
rickyrt
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@rickyrt, besides two points don't make a trendline - particuarly if the second point is the current price lol!
hungry_hippo
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@rickyrt, exactly. It's a bear hoping for a tank. I drew my line parallel and equal distance. It did turn out to be a resistance
RantingPatriarch
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rode the breakout all the way to the 12800 resistance, now i'm hedged the rest of the afternoon or until we get another breakout