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I see a consolidation range which usually means continuation so bias is up.
Gap down but within the yesterday's range so probably just a range day.
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JPM's Jamie Dimon, in his annual shareholder letter, sees strong growth for the world’s biggest economy in the near term, thanks to the U.S. government’s response to the coronavirus pandemic that has left many consumers flush with savings.
While Dimon called stock market valuations “quite high,” he said a multiyear boom may justify current levels because markets are pricing in economic growth and excess savings that make their way into equities.
While he is bullish for the economy’s immediate future, he sees serious challenges for the U.S., thanks to political and societal dysfunction. [CNBC]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Watch MACD histogram, the consolidation phase is starting if we have a bearish reversal candle today. the consolidation in time or in price remain to be seen.......
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My comments are for entertainment/educational purpose only. NOT a trade advice.
Bottom panel: Last week call buyers were wrong for a spell, they eased up on calls while the SPX was advancing (green box, red box), and they had to flip quickly … since then they are back to buying calls
And now it’s the INDU that lags
15 min
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Last 24 hours market bounced on 4064 four times, and fell through once, before the US cash open this morning. Outside of my background to estimate what happens on the next touch. But this is a very important level.
Trades w 2 Cats wrote:Last 24 hours market bounced on 4064 four times, and fell through once, before the US cash open this morning. Outside of my background to estimate what happens on the next touch. But this is a very important level.
Boss: that level coincides with my "Sell/Stop Loss" level on the BEARISH THREE GAP UPS pattern that i posted this weekend (or monday?)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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