"The novice trader will ignore a failed signal... the truly skilled trader will be able to do a 180-degree turn. In other words, it takes great discipline to capitalize on failed signals, but such flexibility is essential to the effective synthesis of chart analysis and trading." - Jack D. Schwager
It seems that we have broken down from the potential bull flag and are now retesting the horizontal support-turned-resistance of $273.25. This looks like a great swing trade short opportunity, especially if the resistance proves resilient.
The next horizontal support is at $269.59, and it didn't hold up for too long back in September. The horizontal support at $266, however, seems to be more reliable.
Elections are coming up soon, so the market may see some more volatility in the next couple of weeks.
The RSI is quite low, so we may see a reversal. However, I am currently bearish in the short term.
This is not financial advice. Be aware of your own risks. I am not responsible for your gains and losses.
It seems that we have broken down from the potential bull flag and are now retesting the horizontal support-turned-resistance of $273.25. This looks like a great swing trade short opportunity, especially if the resistance proves resilient.
The next horizontal support is at $269.59, and it didn't hold up for too long back in September. The horizontal support at $266, however, seems to be more reliable.
Elections are coming up soon, so the market may see some more volatility in the next couple of weeks.
The RSI is quite low, so we may see a reversal. However, I am currently bearish in the short term.
This is not financial advice. Be aware of your own risks. I am not responsible for your gains and losses.
