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Since there is new ATH yesterday, I want to see Hourly buy dip fail first (few more days yet) to say top is in. for now it is just wishful thinking the top is in for the bears.
My comments are for entertainment/educational purpose only. NOT a trade advice.
te_fern wrote:PL current counts shows a break of 3325 would lead to a 'C' down to 3180ish.
Kinda thinking like BullBear, Monday more likely. CCP can lie all they want about virus, if the factories do not open you can not lie about that. At this point the Wall Street wiz kids seem to be thinking virus problems equal more money printing so all is good. Saying once again that after a decade of positive reinforcement by the Fed the younger crowd thinks they are doing the right thing by ridiculing anyone who is concerned. Money printing is no good when your city runs out of toilet paper and the factories around the world are shutting down. As I said before this is like the Japanese earth quake where they found out about supply lines. And they all run through China now.
Counter trend drop can become a primary trend. With a change in social trend. Clear US authorities are in full panic mode. Will see how fast the mental panic spreads.
It's bear's last chance here to make a range day (not typo), otherwise it'd be double bottom, the gap might be filled today.
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Trend lines speak for themselves. We have popped up to the bottom of the value area on a two day volume profile. Yesterday we really did not turn around and head up until around 11 or so which has been really common. Find out soon enough if this is ordinary or as they are saying on twitter will this be the second time we have an up Friday in 2020.