I see that VIX has broken to the downside with an assertive move, which means the bearish case is unlikely for a few months. I will post on that chart separately.
SMA200 should get to 295 soon, which is where I see this market heading in the short term. Volume has been dropping, which lines up with push up.
PSAR on daily has been quite reliable in predicting shifting momentum. If it gets broken, it would be very bullish. Getting out of the 271-295 box to the downside without breaking the PSAR would be very bearish. A short near here with the PSAR as the stop loss would be a great risk to reward though I believe such trade will likely be stopped out.
Caveat Emptor and good luck.
SMA200 should get to 295 soon, which is where I see this market heading in the short term. Volume has been dropping, which lines up with push up.
PSAR on daily has been quite reliable in predicting shifting momentum. If it gets broken, it would be very bullish. Getting out of the 271-295 box to the downside without breaking the PSAR would be very bearish. A short near here with the PSAR as the stop loss would be a great risk to reward though I believe such trade will likely be stopped out.
Caveat Emptor and good luck.
Comment:
Comment:
QQQ is aiming for 0.7 Fib and SPY is gunning for 0.6 Fib. Given that primarily "new age" companies are driving this market, I think both reach their targets at the same time.
www.tradingview.com/chart/icRiRYnv/
www.tradingview.com/chart/icRiRYnv/
Comment:
