Eyeing a move to $4000 and subsequent decline. Notice the similarities with 1969-1973: first ≈35% sell-off, ≈80% move up within upsloping channel, throw over and the trading range. Will update the post as it unfolds.
Financial sector is leading the market at the moment but petrolium within industrials is also showing signs of strength. $BCT stock is in a buy zone:
1) Relative strength curving up on daily and weekly - potential outperformance
2) RSI in buy zone
3) Massive falling wedge approaching its apex, watching breakout today
4) Volume signature shows the presence of...
Once $ES retests the top of the blue lane = bottom of the red lane = swing low on daily I anticipate a move through the middle of the channel, testing, and the bottom test. This rally end in 2900-3000 area. 3150 is my invalidation point.
Another bearish wedge, something's cooking in chinese tech stocks. Can't believe we could finally see Weibo hitting $20. Massive support and buying interest there. $WB fundamentals have been pretty solid — will buy as much as I can carry.