AK84 wrote:GS Wekly timeframe Cup and Handle pattern?????
Shouldn't volume be increasing coming up from the cup's bottom?
Volume is more a requirement on the handle (declining sell or increasing buy vol) but if you pull the GS weekly chart, you will see the volume is not bad on the rise of the right side of the cup.... pattern looks good imo.
so far so good, a little consolidation above the breakout point is good. could be a breakout pullback long here. pay attention to fib resistance above.
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Tomorrow is probably going to be a trend day. Thursdays are always the big moves in this market, for whatever reason. If you want my guess, I think it will be a trend day to the upside. The VIX just simply isn't budging right now. The VIX usually leads the market, so this little dip is probably not as bad as it seems, even though a downtrend is nearly confirmed. We'll just have to wait. I have some puts for the long run but I'm heavily in cash right now.
We have the April 15th turn date. This provides a great opportunity to be in cash. Just wait to see whether the market sells off or rallies into Friday, then take the opposite trade at the close on Friday.
cletus wrote:Tomorrow is probably going to be a trend day. Thursdays are always the big moves in this market, for whatever reason. If you want my guess, I think it will be a trend day to the upside. The VIX just simply isn't budging right now. The VIX usually leads the market, so this little dip is probably not as bad as it seems, even though a downtrend is nearly confirmed. We'll just have to wait. I have some puts for the long run but I'm heavily in cash right now.
We have the April 15th turn date. This provides a great opportunity to be in cash. Just wait to see whether the market sells off or rallies into Friday, then take the opposite trade at the close on Friday.
with vix:vxv this low, I don't believe the market could skyrocket high from here.
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yoku wrote:lol my 1312 target reached. raise to 1315.5
when is gs er?
4/19 at 9.30 am
thanks. i looked at the chart and i don't like it. it seems a flag to me on daily. the support at 158-159 has to hold or i will think of short it into er.
The goal is not uniformity. It is understanding and idea exchange.
target reached plus resistance plus volume surge, this could be an exhaustion bar so should be a pullback of some kind here.
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cletus wrote:Tomorrow is probably going to be a trend day. Thursdays are always the big moves in this market, for whatever reason. If you want my guess, I think it will be a trend day to the upside. The VIX just simply isn't budging right now. The VIX usually leads the market, so this little dip is probably not as bad as it seems, even though a downtrend is nearly confirmed. We'll just have to wait. I have some puts for the long run but I'm heavily in cash right now.
We have the April 15th turn date. This provides a great opportunity to be in cash. Just wait to see whether the market sells off or rallies into Friday, then take the opposite trade at the close on Friday.
Thursdays before Op Exp. in particular are often but not always big movers. We'll have to check open interest at the end of the day, but my screen is showing a big slug of SPY puts at 130 strike. So there could be an attempt to get there depending on who holds. On the other hand, it looks like 133+ is where the most puts and calls expire worthless, often an attractor.
cletus wrote:Tomorrow is probably going to be a trend day. Thursdays are always the big moves in this market, for whatever reason. If you want my guess, I think it will be a trend day to the upside. The VIX just simply isn't budging right now. The VIX usually leads the market, so this little dip is probably not as bad as it seems, even though a downtrend is nearly confirmed. We'll just have to wait. I have some puts for the long run but I'm heavily in cash right now.
We have the April 15th turn date. This provides a great opportunity to be in cash. Just wait to see whether the market sells off or rallies into Friday, then take the opposite trade at the close on Friday.
Thursdays before Op Exp. in particular are often but not always big movers. We'll have to check open interest at the end of the day, but my screen is showing a big slug of SPY puts at 130 strike. So there could be an attempt to get there depending on who holds. On the other hand, it looks like 133+ is where the most puts and calls expire worthless, often an attractor.
I agree with 133. That's my expectation, but I won't hesitate to jump back on board with the bears if we get a weak start tomorrow.
failed pullback but with even bigger volume surge, i think there're good chances to see a pullback of some kind here.
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Cobra wrote:target reached plus resistance plus volume surge, this could be an exhaustion bar so should be a pullback of some kind here.
So where do we go from here sir?
apparently we retailers think this is once in a life time to retire earlier!
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