Short description:
Similarities between the 2008-2009 AMEX:LQD pullback and the 2020 AMEX:LQD pullback, paired with the subsequent snap back rallies from a technical standpoint. Looking at the comparisons between the two, the 2020 correction was about the same depth, however, the structural components of the correction were fundamentally different.
2008-2009...
DISCLAIMER: Currently have a near term options position open, may look to increase exposure under the right conditions.
The chart pattern appears to be in a bullish pattern on trajectory to hit resistance of the previous movement in the near term.
Double bottom and currently in a bullish uptrend.
DISCLAIMER: Already have a long position on LULU, possibly looking to add more on pullbacks.
Looking at the chart patterns it looks like a bull flag has developed on the 1, 5, and 15 minute charts. The price action is above the ichimoku cloud signalling a bullish move on the 1 and 5 minute charts. Looks like this could be preparing for a near term move to the...
