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I can really see the range compression. Since this was news driven no guess as to which way it breaks out.
My thought for the weekend is that so far earnings season has been more fuel for a sucker rally with nothing but financial engineering (that I have seen) waiting for some actual big earnings increases. I do not count Netflix because their cash burn rate is ridiculous.
Cash market 15 minute bar view. The point is just another way to see general direction.
Dark green sawtooth is the bottom of the 70% value area on volume based on prior day. Red line is the point of control. We all know that at some point it will be different, but until then why would you not but the dip?
well, bigger pic, time for bears approaching, 5 year pic of the weekly, we above the top bolly and when RSI hits these levels, typically get a pullback over few weeks to at least mid bolly (2473 ish). fairly reliable...the diminishing volume since the early 2016 low is concerning..
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te_fern wrote:Hard to day trade when the move is made during the night time futures market!!
Jim Cramer had a nice video explaining how fund managers manipulate the market, noting it doesn't take much money to manipulate the markets using the Futures noting: "It's a fun game, and it's a lucrative game"
"I would encourage anyone who is in the hedge fund game to do it because it's legal and a quick way to make money – and very satisfying."
Bitcoin is $ 6000 now! GOLD is $ 1280...talk about the safe heaven..things have changed! I want to meet GOLD BULLS who were calling for $ 5000 and $ 10k GOLD..not in next 100 years I guess...BITCOIN is the new GOLD & safe heaven...
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