Gap fill is on its way. Remember 459s is the move the market has priced in for the week. We hit that we should be rejecting. We should be rejecting for another obvious reason as well. Look for it. Report tomorrow should hopefully be garbage to sink the market so bulls I would be selling into the strength and bears be looking for that rejection. I would like to see that fall out of the flag to the bottom side play in the coming days. Bears don’t panic unless you are a day trader.
Note
Keep an open mind.. it is what you need to do. Like I was telling someone last Friday on CMG's earnings in the post below. the upper 1500s look good but in the event it wants to keep going keep an eye out for those double tops. They only mean the bigger drop on its way and we all know the bigger drop is certainly on its way. Short's dont panic but keep an eye open for these things. CMG will be well below 1k, well below when all is said and done. So look for those potential spots. What if we had another green week next week, would that let some of these achieve that double top spot? Chart it, deep dive it and keep an eye out
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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.