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Kind of head and shoulders top which mostly would fail anyway.
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LAST NIGHT:
Netflix (NFLX) dropped over 8% AH on Wednesday on mixed earnings report and soft revenue guidance despite a ramp-up in new subscribers and a company pivot going according to plan.
Tesla (TSLA) shares were initially unchanged after the EV maker's numbers topped estimates, but the stock fell 4% after CEO Elon Musk hinted at more price cuts if market conditions become unstable
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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Breakdown to the new day low in the next couple of bars then it's a downtrend day. Typically, the low might be in or close though.
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Bears did better than usual. Now let's see whether the rebound could be sold. Typically it'd go all the way up though.
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I hope this is not a fake move down, yesterday the high Yeild Index printed lower. It did not make U turn up yet for few days to give a direction. I think we stll have one tiny wave to finish upward trend.Defensive, XLV, XLP are moving but they are not very strong yet.
Serenity wrote:I hope this is not a fake move down, yesterday the high Yeild Index printed lower. It did not make U turn up yet for few days to give a direction. I think we stll have one tiny wave to finish upward trend.Defensive, XLV, XLP are moving but they are not very strong yet.
Most likely it's a fake move down as bears have never been easy ever so if the top was in then it'd be too easy for bears.
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