Every time I look at the long term, all I see is the fib top of the long term channel in green. When I stretch it out to match one more run, everything just looks right. This is pure opinion, but I think Monday we're going to gap up to catch the shorts and we're going to see maybe the most epic squeeze I can think of. If that is the top of the most long term channel, we have either to reach for it violently, or softly fall down to retest the 50%. What sounds more like this current sentiment? I hate it, but I kinda love it. Still l ong Rivian, MVIS. If it opens higher than close by a lot, I'm in it for the top. If it opens lower, I'm likely out and we're done. But... Does it feel down out there? Have we had one last run to test highs? No we have not. Stay thirsty my friends. My favorite online mentor, Peter of Shadowtrader.net, See's same thing. Not the peak, but two month candles that are hammers. That's a lot of buying over 60 days that would have to be addressed to go down. Also, I am terrified.
Note
Oh, and there was all positive volume on the entire NYSE Friday. As you can see on the lower charts. It's building, IMO.Note
I dub this. The book end thesis.
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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.