From
"It is what it is Department" Key focus
MEGAPHONE chart pattern Market dip and got bought back quickly credit to a Daily buy setup. this came down to the thinking of what is your time frame of a trade? Market is bullish and very overbought, I don't believer the quick correction we had earlier was enough to move market higher from here, but then again when market fundamental have a reason to move higher and enough buyers to support the move it will move higher, and for the short term traders it is
Only Price Pays!
Daily buy dip is good, a new HH from here will give bulls another buy dip coupon on this time frame.
Momentum and internals are in the mixed. indecision moods.
I favored MEGAPHONE chart pattern in the week to come, chart pattern is one hell of tough one to trade, I die-sect it as follow to highlight support and resistance.
Gap at the top or gap at the bottom tense to imply that the volatility and uncertainty is high, more time then not it marked the major turning point. we have quite bit of those gaps lately. so far gap and go and per MEGAPHONE resistance level I will be nimble on either sides. going into next week I am neutral will day trade as it comes. well, when you don't know it you just don't
Santa rally? trade well. Peace!
My comments are for entertainment/educational purpose only. NOT a trade advice.