Last week of price action generated a pennant. Typically these fly at half-staff on a flagpole. Not sayin it will; but it sure could.
The measured move remains below the pennant. 300 pips to half-staff; 300 more would go to 3530 if it goes. Be carefull! GLTA
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BTW today Cramer suggested we should "Buy Da DIP"... SELL!
Trade active
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PA weakens. Flipped 381p on the AM sell. Could really go off Thursday. Might find support at 3800. Crapshoot.
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How bout that. Starts lookin like 2008>2009.
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Watch close now. This does have feel of a fifth and could be a finishing move. Usually the end of bear wave arrives with a dragonfly doji... the Hammer.
If it tanks off another 40 pips Thursday watch for pivot reversal. Take it real easy here folks.
Trade closed: stop reached
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Yeah probly not gonna tank just yet. Warned you take it easy! ALways full of surprises.
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An amazing finish EOY, wow. 0DTE calls went from .60 > 3.60, +600%. I picked up some .39c calls and sold for 80c being very happy +100%, then watched in amazement as they delivered another 100%! Stunning finish. Shorts got caught in a bear trap and scrambled to cover EOD.
This Hammer doji what I been looking for to drive a Nail into the bear coffin. Looks like we got an inverted right shoulder; could get a strong move up in January to test the TL. HNY!!!
Hello there thanks for the analysis, I actually have a higher pullback sell area. I am looking to take profit at 3743.73, where the 61.8% Fibonacci line is. Please consider my suggestion:
DaddySawbucks
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@desmondlzw, no one knows where it will go, or how far... maybe it will bull after all. doubt it tho
day0
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@DaddySawbucks, i know where it's going to go now to 2023-06. :downtrend: :D
DaddySawbucks
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@desmondlzw, might be a good bet, I'll take it
dRends35
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Nice post. This is the beginning of the real crash I think.
aox8zs
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@dRends35, Nice post. This is the beginning of the real crash I think.
i expect Q1 to 2023-06 unwinding during the "under-consumption" phase. so i agree with a decline.
ThinkLikeaWhaleTLAW
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Great work.. clear and precise TA. I'm under the assumption that Q4 of 2022 was nothing more than a classic Bull trap. The complancy stage of the market. Old money needs new $ to hold the bags the next 12-24 months. The 7 year cycle restarted on Sept 28th 2022 if that says anything about what's to come my 1st target would be the 9 yr MA