The Mag 7 has been strong recently, pretty much carrying the entire market by itself. This will be important to watch, as long as the Mag 7 remains strong and in an uptrend, it's hard to argue against bulls. It had an ascending wedge which I deemed to be bearish, but now that it has broken to the upside, I have to be bullish until it falls back into the wedge. I'd expect the first retest of this wedge to provide some sort of bounce, so I'll be looking at the Mag 7 if that retest occurs and consider opening longs on any that are at or near support at the same time.
You reap what you sow.
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The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
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Disclaimer
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You reap what you sow.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
VIP Lifetime Access Program:
ko-fi.com/c/0cb5bf9514
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes. Trading is risky! Most traders lose money.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.