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Measured move down, not sure if the down leg was already over or not as it's Fib 61.8% mm already. wait and see.
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worth watching gold/oils... USD at neckline of H&S 60m.. "could" see sharp drop in UUP, USD ... or still need one more day, one more "RS".. to make it "symmetrical
Market back to hard money setups as expected from last night's post after being spoiled for two days.
Looking through my basket of tech stocks, I'm merely seeing Tier C setups at best. That means they are low probability and not great R/R setups. Like this AMZN setup that I'm seeing right now with 522.5 and 525.5 targets
ES is pretty much stuck if you look at hourly chart. Needs to get above 1946 or below 1928 to make things happen. No need to overtrade on hard money days, gotta protect profits. Cash is king
Surprise surprise!
ES got to 1955 no brainer target. The real question is can we above/around 61.8% = 1967.5 to negate the bear 1993 double top scenario of yesterday?
After all, bulls are pretty strong since it didn't even reach my 1920-1925 trendline support yet. Daily Higher Lows still intact.
vol surge, could be a rebound here first then we'll see.
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Somethings not right. ES and TF are much more in sync today than the last several. And this run up had the machine look to me. Could it have been another blast of buy back money ?
fehro wrote:worth watching gold/oils... USD at neckline of H&S 60m.. "could" see sharp drop in UUP, USD ... or still need one more day, one more "RS".. to make it "symmetrical