I've seen everyone calling the top. Even i shorted the top but we are only down 3% with bulls buying every single dip. We could continue to go lower if we break down from this channel.
What if...
What if we stay in this channel and the bulls force the bears who sold this past week to cover? There were massive shorts opened this week rightfully so. The covering would be quick. We are in an AI bubble and what better way to end it than with a parabolic move up.
FED FOMC is on September 20th. The harmonic pattern targets around 4850ish. What if we break ATH's right before FOMC. Oil rallied 17% in July. This will increase August's CPI numbers and force the FED to continue raising rates or maybe do more in September.
I know it seems impossible, but this market has done nothing but rally the past several month.
I am bullish in this channel unless we break out of it then I'll switch to bearish.
What if...
What if we stay in this channel and the bulls force the bears who sold this past week to cover? There were massive shorts opened this week rightfully so. The covering would be quick. We are in an AI bubble and what better way to end it than with a parabolic move up.
FED FOMC is on September 20th. The harmonic pattern targets around 4850ish. What if we break ATH's right before FOMC. Oil rallied 17% in July. This will increase August's CPI numbers and force the FED to continue raising rates or maybe do more in September.
I know it seems impossible, but this market has done nothing but rally the past several month.
I am bullish in this channel unless we break out of it then I'll switch to bearish.