Most impressive rally young Jedi, Bearbegone has taught you well!
But now you will learn the true power of the Short Side, my young friend!
LOL get long if you dare! Lord Wyckoff has not yet spoken his last line in this play.
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Pretty confident this is a flagpole and price is at half-staff. Got a measured move to go but will it reach the 0.62 fibo first? Trades at the 0.50. Tried a few shorts, banked and back in cash.
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Very little movement atm, forming a Doji, might give us an Evening Star? Opened bear spread in IWM, Feb 202s
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Closed the spread for a push, seems like bull momentum might be building for a crescendo...?!
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LOL EOD pump, low volume c/w short-covering panic. Damned close to .62 Fibo...
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Would not chase this sale, likely gapfill soon, bulls could rally again before it really sells off. Trade with care!
Nice analysis. Historically a bad january seems to mean a bad quarter at least. Not sure how much more the market can bear and should the fed push the envelope and get drastic in reducing its balance sheet we may see an opportunity that comes once in a decade.
@DaddySawbucks, Agreed, best case scenario is we bleed fast and move onwards and upwards. The narrative is already being created and something tells me we will see the Fed wax too harsh. Do a google search on "rising fertilizer costs" and prepare yourself for the next wave of inflationary dragons Powell will have to slay. Meanwhile the resumes of the Fed read like a former Wall St who's who, and banks can increase their rates and profits. But what do I know?
HoldAndChill101
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Lmao pain
candlestickninja
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4550 RELATIVE top, expect gap down below 4540 tomorrow
ForexTrendline
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Good job!
tacosaurus
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LOL, love the humor. AFAIK, it looks like we have hit the 50% retrace just today. I could see it finding it's way to 61.8 ~~~ 4590ish, but don't see any reason for it to continue higher -- nor do I see a reason for it to sell off. Mightn't we end up trading sideways in a range for some time?
DaddySawbucks
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@tacosaurus, aye looks like the 50% might be it. typical for a bear rally, the demand isn't there, these are mostly short-covering forced liquidations