Bull rally showing signs of exhaustion. Tuesday we were stuc...
Bull rally showing signs of exhaustion. Tuesday we were stucked at strong resistance. top of supply zone. Wednesday we failed it twice and went down and finally broke the pattern of sell early session and buy 2nd half for the pump EOD.
Today will be an interesting day for the market. it will determine whether we get a pullback or a waterfall back down to retest 61.8, 50 or 38.2 fib levels to form a higher low or a lower low by breaching 23.6.
Data has shown companies in US cuts more jobs.. 40% higher than Feb. many told me economy booming when I kept saying we were gonna face a recession by EOY since Jan 2022. now the signs are pointing to a recession. yield curves, slowing productivity, out of control inflation, surging commodities, DX potentially breaking 100.
how will the feds save this? will we get a final bull rally like we always do before the recession crash? We will have to see.
For now, things aren't looking good. Huge amount of puts likely bought by institutions expiring all on May and June. Bought all in huge blocks of 20mil premium per block. Are they positioning for something larger than we are expecting?
For now, trade safe and invest wise!
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Kopi is Life : Top of cloud breached. Waterfall?
VogueHereIAm : Chief 101, how do we spot panic selling? When market opens, half time will be all RED candles? Never witness before
orchid88 :
orchid88 : what are the levels to look for again? (sorry am not on DC yet - getting busier so have to hold off until have time to join in)
dwarrior : Bear trap again?
bwjx : if ppl buy lots of puts, mm will make the price rise in April to make them expire worthless?
dwarrior : Not sure. Index pulling up. Not sure if it is doing the retrace?
一百亿能量战士 : Bro 101, likely NQ close red today?
WinningTrader : anyone entering SQQQ today?
Moveit : Looks like the market is refusing to go down. Won't die. So far buy the dips is right.
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