Not great for bulls, but whose trying to short a hole?
Lot of gap downs, lot of rallies getting faded.
Bears are cautiously in control. News can change things in an instant.
I do believe we are closer to the end of this correction, but geopolitical issues are starting to come up that may keep things suppressed or sideways.
Biggest risk/reward is aiming for a rally up by EOM. Perhaps when bad news takes a break. We do have an inflation reading release next week, could be nail in the coffin.
Overall, I am starting a bullish position. More likely we see pops a relief gap ups from here.
Maybe/probably wrong, but anyone opening a short position down here is clearly chasing and may find themselves becoming liquidity for overnight moves where all they can do is watch...
Bears are cautiously in control. News can change things in an instant.
I do believe we are closer to the end of this correction, but geopolitical issues are starting to come up that may keep things suppressed or sideways.
Biggest risk/reward is aiming for a rally up by EOM. Perhaps when bad news takes a break. We do have an inflation reading release next week, could be nail in the coffin.
Overall, I am starting a bullish position. More likely we see pops a relief gap ups from here.
Maybe/probably wrong, but anyone opening a short position down here is clearly chasing and may find themselves becoming liquidity for overnight moves where all they can do is watch...
Trade active
I would be looking for 592 level to be tried and held by Friday. If not, would feel better moving on.Trade closed manually
bang bang, closing 3/4 of my 1/31 calls here as we hit the upper trendline.
Congrats to everyone that followed along.
For everyone else that told people to short a hole, enjoy your loss.
Note
Completely out at 598.80 (dropped when i saw 599!)
This has been a great start to the year. getting on the sidelines to see how next weeks events impact us.
Do we see false breakout? Maybe a melt up? Maybe a melt down?
Remember, market always goes up. Only people who lose money trading disagree :P
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.
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.