Losing morning high by the close will be very bearish going into tomorrow, bulls need to cough up some more cash here, you know I am waiting for the fail move here
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More than 100% measured move down so we might have a 3rd leg down after a rebound.
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Purely observational at this point. Tech, SPAC's and the frothy high flyer growth stocks, are getting taking out to the woodshed this morning. I suspect ARKK is selling heavily today, will know AH.
Looking across the board at growth, I see a lot of charts that look like TWLO. Thinking there is another leg down coming for the Q's and growth in general.
Smalls 30min (ignore vertical lines)
Smalls are still bear bias.
They retraced more than 61% from their 3/15 high, which means they are dying to re-test the 100% retrace at the 3/5 low
But it’s a megaphone pattern with a pos diverg momentum CCI, so she may need to bounce first.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Based on my holy grail internals, Bulls are all in today, if no reversal tomorrow, we are going deeper, a lot deeper, few days deeper, the price recovery will be stagnated for some times. Tomorrow will be fun to trade. Peace!
My comments are for entertainment/educational purpose only. NOT a trade advice.
Almost called double bottom here, gladly I decided to wait for the EMA breakout first which didn't come obviously if you see the 2nd chart which represents now.
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Al_Dente wrote:smalls, 5min, met the measured move target and may try to bounce here ... at least a dead cat...
324TNA 5M.PNG.jpg
If you can recognize that it is generally a down day for smalls, could have greatly benefited from that. Held the short, but took a small profit instead of a large one!! Still working on both, the recognition and the holding period!!