Maybe we get one more final FOMO push up but we'll be heading down after the next red line.
We got a big SELL confirm on the 4H and a small SELL confirm on the 1D here so far in addition to a long (and growing) SELL entry window.
We also got an Aug 12th HH signal with connecting line to March 23rd low. We're gonna have to check in with @avacamir on what that means exactly but certainly bearish.
My signals all indicated a sell off today as well but this market is very stubborn!
The stimulus delay is DETRIMENTAL to the consumer which is 70% of the economys GDP. Going another few weeks without it is crash worthy news.
I wonder if the big hedge funds are holding it up to accumulate a big enough short position
On the flip side, this could just be consolidation before another move higher. If the signals keep failing and the market holds up, this might just be the case.
They are trying to leverage this as evidence that inflation is in the Fed's desired range. Laughable when considering that the supply was severely limited for many items allowing price increases as supply and demand weighed in. Having friends who are truckers that deliver from ports telling me for months they had reduced hours because there weren't enough cargo containers coming in was evidence enough for me to understand why prices rose. Maybe one day these "journalists" will present actual factuals and the BLS will no longer need to provide monthly corrections to previous month's statistics. Bending numbers to reflect a desired reality is a lot easier when you control the numbers and no one pays attention to your ammendments or errors.
ProfitHarvest
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Indicators by @avacamir
How much significance does that line connecting up to Aug 12th and HH call have compared to the entry window and BUY/SELL signals?
TopgOptions
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@ProfitHarvest, that line is dynamic, i use it for harmonic patterns or elliott wave principle. the HH (higher highs) and LL (lower lows) is also to better understand the trend of an asset. in rest, i try to buy on green, or close to it (oversold) and sell on red areas (overbought), when the indicators give those buy or sell signals.
ProfitHarvest
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@avacamir, Got it, thanks! Pretty nice little detail to have there.
The stimulus delay is DETRIMENTAL to the consumer which is 70% of the economys GDP. Going another few weeks without it is crash worthy news.
I wonder if the big hedge funds are holding it up to accumulate a big enough short position
On the flip side, this could just be consolidation before another move higher. If the signals keep failing and the market holds up, this might just be the case.