Here's the deal for those perma bulls. this isn't an in-depth review but rather an summary and estimate.
1. We are in a market shift whether you like it or not.
2. We might have one test of 450 remaining. however, We may see sub 400, first due to the tape and the multiple short trend defining shorts being loaded.
3. I expect to see one shot test of around 420's or high 419's in the attempt of making a semi-major higher lower below 430's made on fomc Day.
So in general:
i expect another test of around could be from monday to tuesday in span testing the 420's area which could be supported by a GAP-UP in PM flowing a sharp rejection of that area leading to a test again of 410's which will be broken to 405's and prolly retest 410's with a combination of AH and IB period sessions before a push to pass 405's (this could be pushed into next week but could be friday of this coming week of the 9th of may, 2022..
Message: DON'T get trapped and tricked by RSI oversold/overbought reading going into the next two - three weeks will get burnt may want to stay out if you can't handle the VOLATILITY, expect some head spinning action.
1. We are in a market shift whether you like it or not.
2. We might have one test of 450 remaining. however, We may see sub 400, first due to the tape and the multiple short trend defining shorts being loaded.
3. I expect to see one shot test of around 420's or high 419's in the attempt of making a semi-major higher lower below 430's made on fomc Day.
So in general:
i expect another test of around could be from monday to tuesday in span testing the 420's area which could be supported by a GAP-UP in PM flowing a sharp rejection of that area leading to a test again of 410's which will be broken to 405's and prolly retest 410's with a combination of AH and IB period sessions before a push to pass 405's (this could be pushed into next week but could be friday of this coming week of the 9th of may, 2022..
Message: DON'T get trapped and tricked by RSI oversold/overbought reading going into the next two - three weeks will get burnt may want to stay out if you can't handle the VOLATILITY, expect some head spinning action.