Yet another short chart. Uses rate of change and gap indicator
I have no idea if this means anything. Looks interesting.
Look at this chart and tell me what you think. I'm keeping my short position.
A potential reality. But I'll be watching the indicators and switch to a long position accordingly.
The indicators are telling a clearer story every day. I could be wrong, but I'm still holding my short position. Of course there's always a chance of random news and I am holding some inverse positions to absorb any shocks.
See indicators and annotated chart. I may switch to a short position next week if the indicators do not recover. Staying long for now and will update you all accordingly.
Notice how it experiences resistance and support according to the volume profile. Needs to cross the top resistance (in blue) for the potential of a rally. Otherwise it will be rejected quite hard downward.
$soxl $spy Volume Profile Explains the recent horizontal channel
Could this be a long pattern we saw back in March?
Compare to previous run up. Therefore, this may run up further. Also see circled MACD profile. It looks just like MACD profile of previous run. There's a possibility this will run up another 20% at least. Maybe more.
Divergence has a negative slope while the price has a positive slope.