No idea wth this thing will do next, made bank playing the sells, the rallies have been surprising and shorting overnight is fail...
IF this is a bottoming IH&S pattern, the rally up here will be something fierce IMO, don't get caught short! GLTA!!
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Alternate theory: An impulsive Wolfe Wave unfolding; could get pretty scary if this plays:
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Another nice move. Could give a zig-zag here and sink back to a double bottom, wouldn't chase this rally...
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looks like a zigzag forming, buy moar puts imo
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I expect massive correction in may/June, rally to lower high over summer, then a monster breakdown. I believe we are in Wyckoff distribution Phase B, UTAD (nominal new ATH after buying climax), or entering/at Phase C in distribution pattern, watch how this plays out over next weeks: stockcharts.com/articles/wyckoff/2015/09/distribution-definitions.html
I was looking at almost the same thing on 'better looking' MSFT. But the late day selloff's the past few days despite yields dropping tells me there may be more window dressing at least until the end of the quarter. I do not think we have a crash coming, but it's not compelling to go long here yet. instead I have been selectively buying short dated puts on companies like SNOW, TSLA, GME, and buying longer dated, out-of-the-money NDX calls as coverage.
DaddySawbucks
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@tacosaurus, IMO bearish consolidation until next week. April almost always bulls.
yotogclemens2
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@DaddySawbucks, maybe it’s time to get a real job contributing to society, where everybody “wins”