The Nenstar inside the Cyper was a smaller formation with a larger right arm than left; hence, Nenstar.
Both patterns; both 'W's and both . Get ready to Fill My Gap!!
This is not trading advice and should be taken with a grain or even a full shaker of salt; trade at your own risk, GLTA!
Headed back to support at 3100, then 3050 IMO; gap to fill at 2865 likely provide springboard for next bull run.
Shorting is not an investment you can sit on and collect dividends while you wait patiently, it's expensive and risky to speculate.
Betting against the markets is most often folly, but occasionally wildly successful.
Played 'Fade the Gap' on SPY which backfired; bullish as all Hell; shorted the dailies in a 320P calendar spread, it's a push if they expire. Need to close this by EOD a another gap up will kill these weeklies!
IMO the Nenstar completed at double top, pressed 3230 and rejected.
Headed down to 3K IMO; lower if it starts to panic...
And re-entered shorts on QQQ, IWM, SPY on midday rally. DIA is more bullish not shorting it yet; looks like "Flight to Quality" IMO
Can the bulls not see how trappy these flags are? Maybe they don't read charts...
PPP and stim progs running out on 31 Jul - 8 Aug. Explosive outbreaks of CV19 in Fl, Tx, CA, disaster redux. Gonna get lockdowns again IMO.
This is a ferocious bear market rally and they all end in bad. Don't get caught in the FOMO FGS; buying August puts now, closed out the Julys for nice gains. GLTA!