Look at how overbought this market is......the rest of this year will be gross! Slow down and even a reversal in Fed Policy. Don't fight the fed. They are now removing liquidity from the economy. Take profits and short or wait on the sidelines in cash...
Seems like a major top is forming for a pretty big correction. Dependent upon stimulus of course. However, everyone I know is suddenly a trader. Mechanics, Physical Therapists, Construction Workers..... who else is left to get into this market? Mix that with the MACD..... Caveat, of course there could always be more money printing and sending checks out to people.
Go short or get to cash. Market looks like a major top. People who are trying to trade for the first time are here. They will get slaughtered. I personally know so many people who are now "day traders" get short.
Seems like a big potential to make some money on the short side in the DIA. QQQ who knows. But COVID getting bad again and we are probably facing more lockdowns.
Beware here....the rising wedge is the final wave of a bull market. Expect a big pullback in 2020. If there should be none there will definitely be a 50% pullback following the election. No need to get short until the support line of this move is broken and then becomes resistance and a Fibonacci level has been reached simultaneously. Make no mistake this is a...
The thick purple line is the long term support line of this last bull run from June 2016. We are either going to hold here and blast off or fail and correct. Yellow is current support trend since January of 2019
Long to the resistance level which was previous support. About 15% upside if that. Then short down to trend. I don't see a clear bottom in the MACD. One buyer does not make a bottom. That price spike is one buyer. I have no idea on the time frame. COINBASE:BTCUSD
Support looks to be resistance. Clear Head Shoulders pattern with no real support down to 183 Levels. Plus executives bailing on FB due to privacy concerns. In addition the overall market looks like it could breakdown here. NASDAQ:FB
