The market is poised to pullback after a major week of rallying and being bullish. HOWEVER, please note that the negative divergence that has been building for months is still holding. The breakdown triangle/wedge has also been "retested" for all its intents and purposes. I will continue to look for shorting opportunities in this 13-year secular bull market because the next recession/depression/"great reset" will be a once-in-a-lifetime opportunity. Yes, it is HARD to call tops in this bull market. That is why we must be cautious when shorting.
Due to Biden's signing of the "American Relief" yesterday, most Americans are expecting the $1,400 + $600 conditional paycheck to be direct deposited to their accounts over the weekend. Last time Trump signed a COVID relief bill, the first wave of checks came within two days. Most people expect the stock market to gap up going into next week; not to mention $GME going to the MOON. HENCE, shorting is counter-trend and very risky at the moment. So please take note of this. Also, please do NOT gamble into $GME unless you have disposable income.
Due to Biden's signing of the "American Relief" yesterday, most Americans are expecting the $1,400 + $600 conditional paycheck to be direct deposited to their accounts over the weekend. Last time Trump signed a COVID relief bill, the first wave of checks came within two days. Most people expect the stock market to gap up going into next week; not to mention $GME going to the MOON. HENCE, shorting is counter-trend and very risky at the moment. So please take note of this. Also, please do NOT gamble into $GME unless you have disposable income.
Comment:
My apologies, the terminology is "American Rescue Plan" not American Relief.
