The MOST HATED rally is starting to pullback! Bears finally get their day in the sun!
Fundamentals - Don't assume! Observe and React!
Simple Targets
- Bears are targeting 430 (MA20 green coming up to support + structure) and 421 (trend channel support + MA50 blue coming up)
- Bulls are trying to defend 434/435 (gap fill) and if they lose it, they will retreat to 421 as it is structure support
- Important note ==> If bulls push up today, watch for MA5 yellow at 438. Rejection means bears are building liquidity to break below 434.
- Important ==> If we see pre-market gap down below 434, then we would need to expect 430 as gap downs are tactics to overcome resistance + take out stops.
- Bears are targeting 430 (MA20 green coming up to support + structure) and 421 (trend channel support + MA50 blue coming up)
- Bulls are trying to defend 434/435 (gap fill) and if they lose it, they will retreat to 421 as it is structure support
- Important note ==> If bulls push up today, watch for MA5 yellow at 438. Rejection means bears are building liquidity to break below 434.
- Important ==> If we see pre-market gap down below 434, then we would need to expect 430 as gap downs are tactics to overcome resistance + take out stops.
My Watch/Plays
- If gap down through 434 tonight at start, will look for 430 as support
- If recovery, watch whether 438 (MA5) is breakable. If not, then I will also start seeing how 434 and 430 gets reached
- If gap down through 434 tonight at start, will look for 430 as support
- If recovery, watch whether 438 (MA5) is breakable. If not, then I will also start seeing how 434 and 430 gets reached
Market is very kind to show us all these and give us some hints.
Watch price action and then react.
Watch price action and then react.
Good luck, all!
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icezzz : Thanks for update us.
AsphenOP icezzz: you welcome
Golden_Potatoe : Thanks for the analysis
AsphenOP Golden_Potatoe: you welcome
KC Yap : powderful
Sg-Jin KC Yap: Bears looking for multi year recession
AsphenOP KC Yap:
AsphenOP Sg-Jin: they will not get it
Sg-Jin AsphenOP: 2% inflation requires QT. Growth stonks will be hammered. Tools of the fed ? This ain’t 2008…. Now 32 trillion in debt.
This is a bear market rally. The drop will be painful. Diamond hands will be ground to dust.
AsphenOP Sg-Jin: Good that you have a strong conviction.