Maintained short here.Considering velocity and overall market sentiment, a retest of previous lows is very realistic. Looking to take bulk profits between 0.06-0.08.
After a classic double top formed after rallying 300% from daddy Elon's announcement to accept doge as currency on Twitter, a return to normal is more than likely. Trade with caution however as...
Two scenarios, red arrow outlines the bear outcome, green arrow for the bullish outcome. In the current graph forms, the bullish outcome has 80% chance of happening in my opinion. trade with caution it is very volatile
There is a steep drop coming for a lot of stocks. The crash is only starting and there will be a deep depression (it would be great for it not to happen but it looks inevitable now). The only thing you can do is to be aware of it and be ready. Now is not yet the time to be buying large amounts of stocks.
Trade according to the scenario at hand. The full breakdown did not happen as I initially thought. There seems to be a lot of hesitation in the bear camp as shown by the sustained uptrend here. The latest uptrend happens to be within an ascending triangle so we will wait for confirmation on either end before trading a direction.
This has turned from a dead cat...
Looking for a short setup once again as many major cryptos have made significant rallies to reverse short-term losses. MANA is one that has rallied over 100%. Looking short here as it looks to retest previous lows
Buy at your own risk but there is a massive dead cat bounce incoming. After more than a 98% drop from all time highs and the highest treading volume ever, the snapback here is going to be substantial.
very short term long
If the SPX would break down under this level, there would be a significant correction that would ensue. Many catalysts or in place for it to happen. Long-term investors should be wary still of entering at these levels. The market remains drastically overbought despite the recent correction.
UVXY shown here is an ETF of the VIX and it is leveraged, which means its dip under the current trend is insignificant and mostly due to beta slippage. The VIX itself is still trending up and volatility is increasing at an alarming rate. Buyers beware, the winds are changing in the bear's favor and a deepened correction in the major indexes is HIGHLY likely
This is a very telling sign that the current short term trend has switched sides. Bears are in control now from a technical analysis standpoint. From a theoretical standpoint, very simply put, the central banks will have to start pumping the brakes on quantitative easing unless they want inflation running out of control: it is already much higher than the metrics...
Crypto and SPX are still in correction territory. As the major indexes move below their current medium-term growth lines, a bigger correction looms beneath the surface. A deeper drawdown for the SPX/NDX seems inevitable here and it will most likely have repercussions in the crypto space as well.
The markets have been teasing new highs for a while now. The latest price action from this week shows a tremendous amount of selling pressure that will most likely result in stocks making short term intermediate lows and deepening the current correction. Be very cautious going long.