Almost 80% of the market has turned bullish at this time. So I would like to point out a Bearish case on SP500 today. Similar to my BTC outlook, this also involves formation of Expanding Diagonal Waves.
Even though we broke upward from the trendline, this does not implies that we have invalidated the bearish PA (at-least not yet). We are currently at a critical level. In-case we fail the retest, the longs can get swept real fast.
Order cancelled
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The recent upward Gap on market open invalidated this scenario.
End of the day Pump -- was maybe options expiration and covering -- Look for a gap down Monday
syedhamza2135
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@CapeAfrican Maybe, lets see what happens on market open
TraderV123
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End of day pump was interesting. Gold has been in good correlation with ES on the way down. Is this a correlation break or simply an opportunity for smart money to force a short squeeze? Futures will tell on Sunday evening imo. Good luck to all!
syedhamza2135
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@TraderV123 Yup, both sides have possibility of winning right now. Though ES non-commertial positions came in negative than the forecast, lets see whst happens on market open.
ChartMeNot
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better to be out wishing you were in, than in wishing you were out