Have we locked in bottoms? Time for rip? Maybe not
Check out this buy zone I set up back in July, we bounced off the June 17th bottom, and just accelerated through the demand zone, but right before that is a supply zone (not pictured), also look at the volume difference from June to now. This push to the upside is weak, liquidity is draining out of the market, as soon as bad news comes, and it will, there will be hell to pay. Perhaps a more cynical way of looking at this might be that this is a pump before a dump
This is a bear market, without good news, and a sustained rally the pumps are a false floor and good place to buy puts, or at least that's the plan for me
This is a bear market, without good news, and a sustained rally the pumps are a false floor and good place to buy puts, or at least that's the plan for me
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