This is a possible scenario I am looking at for the week. I believe tech stocks will have a major meltdown due to being overvalued and regulations for them being increased by US government. It is only a matter of time.
It is very obvious from a technical perspective this is a huge bull trap. It is safe to say a rug pull will come sometime after it touches this trend line.
The US500 futures are currently bouncing off this major resistance. I still strongly believe a crash under previous lows will occur & markets will go much lower than previous lows. I am holding all of my short positions still.
Amazing how there are so many reasons to be bearish here. I cannot imagine why anyone would be bullish. From a technical perspective, it is very obvious a major plunge is about to occur. =)
We are currently in an escalating trade war with our top trading partner and the market is overvalued so I am convinced markets will plunge much lower than 2550 this week. I notice a head & shoulders pattern forming in futures, it looks like this is the right shoulder. It is a great time to short the market right now, I am already fully invested in short positions.
