She appears to want at least 68-70... Watch as momentum is picking up... Healthcare stocks look prime for breakout soon...
Understanding re-accumulation is difficult for even the most seasoned trader. 90ish is target...
Looking for at least 36.50ish then move to test what was gained...(32.75 possibly- Need to see once we are there)...
This is a PERFECT Gartley Bearish Pattern. High probability of success. Looking forward to seeing how this plays out.
Strong Congestion areas will act as good support for a strong bounce when momentum is somewhat strong.
You can see momo looks much worse to downside on 4 hour than on the 5 min. Use all your time frames.
$SPY... Momo to the downside is slowing down on lower time frame; however, it looks a lot worse on the 4hour and even daily. But don't forget big picture... BULLISH MOMO is BIG TIME in control. I do think we will test 199.50-200 then head down lower to finish testing 196 area... Looking for 197.70-80 as STRONG support for bounce and possibly head to 199.50-200 by...
GLD has seen a very nice down move last couple of months... Hitting NEAR very critical support now. Expecting wild bounces to slow the momentum down(to the downside). I will look to buy once I see momentum shift to the upside. Will buy at strong support area. Watch Momo... If they don't slow it down, and it continues it's downward path, they may take this to new...
WEAKNESS present... distribution should start picking up... Looking for 50% retracement of rising wedge. Possibly as low as 64.33(beyond 50% retracement). Do your own homework...
As the Indices continue to show weakness, I look for VXX to show temporary strength. How much it will show is in question, but we appear to be making a double bottom for a nice pop over next few weeks(POSSIBLY). Listed some potential targets. Broken trendlines are good signs that trend is changing, whether it be for the short term or long term. In this case, I...
Distribution is important to recognize. Distribution is when they are selling the market without SIGNIFICANTLY impacting the price of the market. So that means they can take price higher or lower during distribution, but it won't be SIGNIFICANT. Pay attention to details.
Markets just don't fall or go up... Operators(Smart $$$) must take time accumulating(to take market higher) or distributing(to take market lower). Here we are starting to see clear signs of distribution in process. You don't need a moving average or indicator. Use your eyes. You can see it! The issue w/ most people is they want to short instantly thinking we will...
Overall picture appears to be distribution like MANY MANY equities, but distribution takes time... so Important to outline each leg and understand where strong bounces will most likely occur.
Market is still finishing testing what's lost above before heading down to test what we've gained. $GILD is in distribution. Looking for one last move to 108.71-109.xx, then a smack
$VXX finishing up what it just gained. Should see nice move to 29.15-29.25
$BAC is sucking in bulls big time. But few people understand that we are testing what we just lost from back in April. Bearish Gartley pattern is powerful distribution Pattern. I believe 14.60 target could be conservative.
Time to go test SL @ roughly 1.10157 after strong bounce