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Not sure if it's a lower high here or not, generally the pullback would be bought somewhere anyway.
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1) Nasdaq has fallen short of the 13,100 target, which tells me bulls might regain control of markets after any dip here
2) VIX never quite got to 20 or below which is really more prime shorting area
3) Dip buying is probably where it is at, even if this initial dip here goes a bit lower
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For more precision on moon cycles, I use a moon phase function in Tradestation to calculate what day of the moon cycle we're on. Using a backtest, it was concluded that for something like SPY buying on moon day 9 (a few days before the full moon, with 0 being a new moon and 14 or so being a full moon) and selling on moon day 2 (a few days after the new moon) is the optimal strategy.
We're on moon day 3 now, moon day 9 will occur early next week, so if a pullback begins this week, that would be the time to strike again on longs and close out shorts.
Possible higher low so the pullback might be over.
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Breakout, so it's a measured move up, tinted area shows where the 100% target is.
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Hourly momentum is still not crossing bearish. but the lower degree time frame are weakening. Bears need to sell harder to turn the hourly down. one step at a time.
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My comments are for entertainment/educational purpose only. NOT a trade advice.