Measured Move? Pennant on Flagpole
Updated
Last week of price action generated a pennant. Typically these fly at half-staff on a flagpole. Not sayin it will; but it sure could.
The measured move remains below the pennant. 300 pips to half-staff; 300 more would go to 3530 if it goes. Be carefull! GLTA
The measured move remains below the pennant. 300 pips to half-staff; 300 more would go to 3530 if it goes. Be carefull! GLTA
Note
BTW today Cramer suggested we should "Buy Da DIP"... SELL!Trade active
PA weakens. Flipped 381p on the AM sell. Could really go off Thursday. Might find support at 3800. Crapshoot.Note
How bout that. Starts lookin like 2008>2009.Note
Watch close now. This does have feel of a fifth and could be a finishing move. Usually the end of bear wave arrives with a dragonfly doji... the Hammer. If it tanks off another 40 pips Thursday watch for pivot reversal. Take it real easy here folks.
Trade closed: stop reached
Yeah probly not gonna tank just yet. Warned you take it easy! ALways full of surprises.Note
An amazing finish EOY, wow. 0DTE calls went from .60 > 3.60, +600%. I picked up some .39c calls and sold for 80c being very happy +100%, then watched in amazement as they delivered another 100%! Stunning finish. Shorts got caught in a bear trap and scrambled to cover EOD. This Hammer doji what I been looking for to drive a Nail into the bear coffin. Looks like we got an inverted right shoulder; could get a strong move up in January to test the TL. HNY!!!
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