Lot's of supply and bulls while bears were toasted.. Nothing to squeeze
Either the 1hr is smuggling grapefruits in it's skinny jeans or the bb's are about to pop. VSS intact VSB @2068.53
A lot of traders getting bullish off this move. Taking a step back and looking at the monthly. This appears to be classic distribution and cause for caution. 161.8 fib from the 2009 low and a shallow retracement considering this huge move. Let's look at the chart: - Top of the TL is ~209.12, but appears to have formed a triangle. (Open gap at 61.8 or 195 area) -...
I believe we are distributing on f the lower TF's, but still marking up on the 4hr and daily. We should start distributing on those soon. Overall, I believe this is (13) or UTAD on the larger TF's. We won't take out ATH's and if you look at the charts, you'll see the low is in for UTAD. I think we chop around as tutes distribute for MD. 2091.50 is top end from my...
No bias here. Let's look at the chart. Above the 200 dma; however 3.42% from ATH's with overhead resistance. The .764 fib, virtually no retracement, overhead supply, only 6 handles from back inside the descending TL, and below the 200. Right at LPSY, which is not favorable for bulls. Let's see how this one plays out. Sleep well bulls
IBB has completed BOI and looks like it's in mark down in the lower TF's. Weekly and monthly show SOW in distribution phase. In the short to intermediate term, IBB will have to flush, but then I expect an explosive spring up. Volatile ups and downs, but ultimately lower. Ball park 291.36 as the low. FWIW, I did this at the request of a fellow trader. I do not...
Looking for a back test from now to 2011 area to complete SOW, then set up move higher today. Targeting 2037.25 ish, but remains fluid. Made notations on 4hr & daily
Went long at 2008.50 believing the low for SOW is in at 2007.50. I expect chop for most of the night then a move up targeting 2043.50. I'll start scaling out a little before depending on conditions.
This is where I believe SCTY is.. @drew_puch
Exercise patience before shorting and pay for time premium if using options. Completing back test of UTAD on 60 and 4 hour chart. Then down to (8) on distribution cycle. (for the 60 & 4 hr.)
Top of range and down trend. Bear flag on declining volume. Looks ugly.. I'll take Wyckoff off the table.
61.8 retrace from ATH's and 100% from 9/17 range high
At close, went right up to my target. As it stands, off by a tick. I also sent out an ST message earlier stating the trajectory had changed and I anticipated a faster move up.. I was thinking tomorrow, but I guess it's today. I'm expecting a retrace to 2004.75 area, then another high retest overnight. If my model is correct, we drop from there.
Here's a shot zoomed in of my hr model at 15 mins. Sideways as expected with algo's running stops up and down