The market is too complacent. The call/put ratio is is where it was before the last crash. I'm not sure why the market is going up but wedges are appearing. Technology ETF TECL (inverse is TECS) is a short.
Support/Resistance with respect to Wyckoff and current fundamentals.
All of these prices are zones, so there is no specific value I am claiming the price will hit. I believe it will hit at/near the zones I marked.
The thick red line and the extra 50% drop by Dec 2020 reflects the possible slow cooling of the economy as the world shuts down to contain the coronavirus. I am long term bullish, so I will be buying at this point, and buying at many points in the future, not selling.
My analysis suggests that the Technology Sector is set for a massive upside price advance in the near future. My other analysis suggests the US stock market could begin another massive upside move as well. I believe the Technology sector has been push dramatically lower by fear and missed earnings data in relation to the recent Q3 earnings cycle. I believe many...
Not big on stocks but this is my view if TECL can flip the resistance level. If not, we can expect to return to retest the blue block. I'm only bearish if it goes under the monthly support level.
My WT Cross Strategy has alerted me to a buy signal for Direxion Bull Technology 3X Shares ETF ( TECL ), at a price of $155.38 using a 120-min time frame. My idea is to buy the dip, at price below $155.38. I will update when I get the signal to close the trade.
I am using the following parameters for this trade:
Channel Length - 1100
Average Length - 1...
