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Lower high or slightly higher high trend reversal is possible because bears tried several times already (red arrows), they just kept trying, seemed determined.
Gap up near the high of the Friday so could be a trend day either up or down.
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AAPL doing well. BA not so much. Longs and shorts. As happens very often, about the time you spot the move, it is about over. Wait for a pause/pullback and resumption.
Charts posted are not recommendations. They are just a sharing of information.
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Consolidation, breakout is more likely. And once breakout, it confirms the uptrend day.
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The pullback probably will be bought and the EMA20 now is a likely place, but the pullback also means it's just a range day, we may have the range high.
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I am assuming the 4740 was a significant options strike. Can't find the options gamma chart from last week but it had several strong levels. Question in my mind is where does this leave us for the pull back before the Santa Rally. 4 D chess question, if the Santa Rally is a sure thing this year then why are we seeing article after article behind the zerohedge paywall saying Goldman is calling for straight up into year end. I ask because e all know that Goldman provides two different advice channels, one for retail and a separate feed for the better hedge fund customers.
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Possible higher low, now it's the bear's last chances to make another leg down (invalidate the higher low).
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If bulls can touch the blue line above then breakout would be more likely.
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