Its Breaking Out. Need follow through tomorrow. Epic Short Squeeze is coming. More Bears than Bulls compare to March Bottom. So its not the Top everyone looking for.
@oranjcrush, Good Luck with your puts. Markets don’t Crash in Summer and way too Many Bears. It’s very unusual situation. I am a Bear but I have to listen to the Charts!
oranjcrush
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@avka81, I didn't say it was going to crash, nor do i have puts. You are saying it is going to sky rocket to ATHs. Also, just to point out, your channel is off if you were trying for a std 2 deviation avg parallel channel.
The channel actually looks like and RUT is outside and below it right now.
avka81
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@oranjcrush, I had it drawn a similar way before. I do prefer Bar or Line charts for drawing Chanels. Remember Chanel and trend lines will change and you have to change with it. If we can predict it before hand its better.
PaulDeep19131
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@avka81, You are correct here. Anyone shorting is going to blow their accounts wide open. I've been long since the 2nd week of April and we will be at ATHs by early August.
-zSplit
oranjcrush
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@zSplit, In case you were worried. The shorts were fine today, account intact
dRends35
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Think you may be right - also that price may be entering closing phase of Grand Supercycle, a real pump may be en route
MatthewYoung89431
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Don’t even think the Fed can justify pushing it up to ATH right now with Covid cases rocketing everyday
avka81
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@MatthewYoung89431, Inflation doesn't discriminate. fed Printed too much money and needs to find a home. Unfortunately its not gonna end well. But as Traders we don't care we just follow the market. Market is Always right.