Today/tomorrow bull flag, intraday channel trades
Updated
I'm medium term bearish (next week, first week of July) but for today/tomorrow looks like a bull flag is ready to pop to close the window at 3188. I think it will close today headed towards 3080 (bottom of the flag/channel) unless this thing pops within the hour. If it closes down there, it'll climb after hours, open at the top of the channel or with a gap up, depending on picking up any speed. Triple witching Friday, etc. Good luck, be careful!
Note
Bull flag popped but not as high as we thought it could go because it ran into heavy resistance at 3140-3150 which is the upper channel trend line we've been inside of during April and May. We popped out of it first week of June, then sliced back through it, and have been rejected now three times as we've back-tested. However, we are still in the trading rectangle that we have been in since Tuesday. We tested the bottom multiple times on Friday but did not bust through it. Some folks I trust are still saying we may turn around next week and rip through that upper channel line to close the gap and retest ATH's. I myself am trading the bearish case, but watching closely of course. GL. Loving the discussion in this thread, btw.
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.