Whew Chile... I SPY a rising wedge
Updated
Scared to jump in! I will say that since Nov, it's been extremely important to recognize patterns and implement strategies to participate in this fast moving bull rally (tight HH & HL).
This 2/9 week candle was pretty strong. I heard someone say once that when people missed a strong rally over thinking it (especially big money), we may see attempts to snatch at new ATH. Mark it.... Nov 2023 - Feb 2023 is a modern day example a strong bull rally.
And so... I see a tight rising wedge pattern. I'll be looking for Multiple top rejections and a break and retest of the bottom of the wedge. If we do cool off... previous ATH. Doesn't have to happen, but it's my idea. IF we break and retest the rising wedge.
tradingview.com/education/wedgepattern/
***MNDY, WM, SHOP, LYFT, DKNG earnings this week (sometimes i think the mkt holds up to support earnings rallies lol). This week we may get some tight chop at the top.
This 2/9 week candle was pretty strong. I heard someone say once that when people missed a strong rally over thinking it (especially big money), we may see attempts to snatch at new ATH. Mark it.... Nov 2023 - Feb 2023 is a modern day example a strong bull rally.
And so... I see a tight rising wedge pattern. I'll be looking for Multiple top rejections and a break and retest of the bottom of the wedge. If we do cool off... previous ATH. Doesn't have to happen, but it's my idea. IF we break and retest the rising wedge.
tradingview.com/education/wedgepattern/
***MNDY, WM, SHOP, LYFT, DKNG earnings this week (sometimes i think the mkt holds up to support earnings rallies lol). This week we may get some tight chop at the top.
Note
For a deeper perspective, see @steverssteve (you will learn something new)
Note
DAY View - looks like there's still room to run.Note
would love to see a pullback tomorrow.... i'll be watching.Note
4hr 3/1, PCE was yesterday (started running in premkt). We Up! 5130+ today? Saw a target of 5150 from someone. When will we digest this beautiful run up?Note
bearish weekof 3/4 - 3/8** nice 4hr wick; but watching sell line wed & thur (Powell speech)
Mommy Miles :)
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