Up 2 weeks in a row, 78% chances higher high ahead the next week, so maybe the rebound isn't over yet?
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From it is what it is department: Sell/Buy until it fails.....Stick to your favorite time frame.
Multi-Time frames view,
Daily = Sell
Hourly = Sell
5 min. = Sell and failed on the late day spike, for this time frame next dip will be bough or chase up above "no man's land" zone.
During transition from each time frame I high lighted the "No man's land", this area will tell me if the run way reversal should occur which will provide me the opportunity to chase on that direction.
Keep it simple.......
My comments are for entertainment/educational purpose only. NOT a trade advice.
the other weekend I mentioned "they" buy it at -10% which they did
(They being the govt)
I found Friday's action telling. To me the rebound was stopped at a key point on Wednesday and Friday indicates the new leg is down - should Monday bring a lower low on the daily (<Low2764.50), and possibly to new lows below 2603.
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Educational only and not trading advice (EO&NTA) Good trading to all
Inverted Head and Shoulders appears to be forming on most indices and stocks..If we break up thru this resistance, we have a bit of a prize at the top..