Theta is in a wedge under which there is a static support and a strong trend line.
In area 1028, Satoshi is also placed on top of a support, due to its good momentum after breaking the wedge, it can touch the
specified targets.
TP1:0.0001338
TP2:0.0001768
TP3:0.0002704
TP4:0.0005850
SL: if any daily candle close under 0.0000920
If this is a wedgie and today's action completes the formation then the target is a little under $41.
Of course with this pumptarded market, I'm expecting a big futures buy on close and a gap up again tomorrow before the tank on Fed dot plot.
SPY (SPX) looks wedgie here. It might hit the upper trendline one more time though, my futures (ES1) chart shows it might hit 2840 gap resistance before a pullback.
I'm not playing any indices right now.
Personally, I think the tariffs are gonna send the country into recession, but you can't deny the accumulation (on SPY and SPX). There's a possibility that the market will totally ignore tariffs and fundamentals in general. If that's the case, and this thing gets pumptarded then it's making an ascending expanding wedgie. Typically they only happen with...
So I cleaned up the charts a bit. We got a pop as expected due to the positive divergence, and we broke one trendline, but there's another one above (dash lines). Not sure which one is the true wedge, the dash line appears to be creating some resistance.
Assuming the solid line is the wedge, I drew up the wedge breakout target. Seems lately that the market...
Plotted out he intraday SPY/SPX for you guys, here's QQQ/NDX.
Backtesting the wedge and ATH at the same time, don't think it'll break through this afternoon. I don't open short positions on Friday afternoons though, not worth worrying about this crap over the weekend.
I posted this a while ago, and I revised it a little. Looks to me like this is going pumptarded on earnings to complete the wedge.
No position, staying away from this Ponzi scheme.
Looks to me like it's forming another wedge, FAANG stocks and Nasdaq look weak.
I think we get 2 -3 day drop again next week, maybe all the way to $270. Not going to short anything though, will wait for the dip to buy, proving to be a much easier strategy considering they'll pump the krap out of the market if a China deal gets done.
