RDDT the reason for the down trend was funds were essentially selling speculative plays to chase mega caps on the recovery rally, once that rotation comes to an end we can see capital inflow again
RDDT today we triggered mass stop loss cluster below 100, thus the intense volume, institutions arent interested in going long when this liquidity cluster is so close, now that we tapped into it, proper accumulation can occur, the next big pop should be followed by a pullback of higher low so make sure you keep a core position as this could be the last few sessions we see below 100.
RDDT today we filled the value area gap from previou uptrend, this should signal the start of an accumulation cycle moving into next couple of weeks, profit take area is 120, then 140-150 range.
RDDT trying real hard to stay in the cyan zone, very close to bottom, the market really want to grab some stop orders from below $100, sellers clearly targeting that level, so maybe SPY pullback will get there, super bullish if we dont see it; but could easily traverse through the vacuum and get to 98, which is a great spot to go long!
RDDT my target for today was to get in around $96. Bought some $93 strike calls. Let’s get this back to $120 💸
