The US indices just kept on going up and up the past 2 months, like there was not stopping it. Each moment of weakness (were some bear traps on lower time frames past months), simply got pushed back up which eventually led to a continuation of the rally. Now for the first time, we dropped out of that channel and even did a successful retest. To prevent another bear trap, that thick support line needs to break tomorrow. We really need to see a good drop tomorrow, nothing slow, no hesitation, no sloping on that thick trend line. That H&S target needs to get reached in like 2 days. Need to see some real profit taking this time, otherwise i am afraid it will simply move up again, postponing a drop once again.
My long term view on the stock market, is a big bear market.
Previous analysis:
My long term view on the stock market, is a big bear market.
Previous analysis:
Comment:
Finally some real weakness now, dropping as i asked for, with some speed. But, we should not act surprised though if the bulls pull something off. Normally, this should become at least a bigger correction. Think we should see 2700/20 even this or next week.
Comment:
Target reached, so far no bounce so good chance we might drop some more before making a move up again. That green support around 2680/2700 might be a a target that could get reached and to take more profits (for the ones who keep some running)
Want to support me? My affiliates:
partner.bybit.com/b/botje12
onelink.to/quantfury
Add invite code AFTER signing up, bonus up to $250: 4JU345F3
1 trade, 30 day wait, to claim bonus
www.kucoin.com/r/af/rMQN2A5
partner.bybit.com/b/botje12
onelink.to/quantfury
Add invite code AFTER signing up, bonus up to $250: 4JU345F3
1 trade, 30 day wait, to claim bonus
www.kucoin.com/r/af/rMQN2A5