DJI Double Top
Updated
I don't use Fibs but was curious if the lines I had drawn will show up and they do nearly perfectly. I don't use fibs, I use my eyes, and well, maybe I'll look at fibs more as they detected/predicted the same levels.
I shorted DJI under 40k thursday pre-market and held the short to 39k
Looking at DJI as it has no NVDA in it.
Here is your double top. Cool CPI gave us a rally, now we're seeing the stagflation symptoms again. Don't think we'll see a third bounce off of the highs around 40k
I believe 40k is long gone. S&P and Nasdaq are harder to read because of NVDA. My read is fundamentals first, chart second. There is an explanation for the moves.
I shorted DJI under 40k thursday pre-market and held the short to 39k
Looking at DJI as it has no NVDA in it.
Here is your double top. Cool CPI gave us a rally, now we're seeing the stagflation symptoms again. Don't think we'll see a third bounce off of the highs around 40k
I believe 40k is long gone. S&P and Nasdaq are harder to read because of NVDA. My read is fundamentals first, chart second. There is an explanation for the moves.
Note
Update: I just saw intelligence firms indicating net shorts on btc. dailyhodl.com/2024/05/26/hedge-funds-net-short-on-bitcoin-and-ethereum-futures-on-cme-kaiko-analytics/
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