Now it's no longer a bull flag to me. The sudden push up apparently was just a news. We're back into the range which may last till the 2 pm roller coaster show.
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Can anyone explain why $IWM and $RSP are strong today? Could it be money flow out of high tech into small stocks which is a sign of confidence in the future economy?
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Time for Fed to help Joe on the street, not Joe on wall street. raising interest rate and let the market cool down a little. Bears are on a driver seat as long as we trade under 38.2%, Text book.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
The 10 fangs are not as weak as we think
SPX and QQQ are up against 38% retracement resistance
The triple top on SPX suggests a breakout
The lower high on QQQ suggests no breakout
But the 10 fangs already cleared the 38%. If they can stay above that, it will give bulls hope
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Bouncing from the range low, 5 min to roller coaster show...
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BullBear52x wrote:I'd love to have my 3425 shorts order fill, but doesn't look like it will. come2papa
FOMC day usually close weak so maybe the weak close already started...
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Kind of 3 push up so usually the pattern thereafter should be like dashed blue line illustrated.
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Back to the range low, not looking good to me (break down likely).
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