They ought to squeeze all shorts first. The December and
November highs are good targets to hunt for stops. It is a good
risk to reward ratio, since they could dump their positions
overnight or after a big news release.
My trading plan for today is this. The manipulation has panned
out as advertised with this overnight drop. If we hold the Friday's
range into the open, the gap should be bought for a day trade. We
may or may not post a one more higher high, as was the case on
11/14. Otherwise, we risk retesting the uptrend line around 11900
on /NQ and 4000 on /ES. That retest should be bought for a bounce
trade.
With a cluster of Fib resistance at 4100 on /ES, we might have
completed wave 5 of 3 on 4-hour charts. A pullback may not be
shallow into Thursday, when big earnings reports are due.
Yes Junkie the SPX hasn't even reached it's previous highs -
will be interesting to see how the market acts as the primary
cycles change starting next month once big tech is done reporting
and FOMC as well
They ought to squeeze all
I’m always amazed at days like this when the stocks ...
Posted by junkie on 27th of Jan 2023 at 02:35 pm
They ought to squeeze all shorts first. The December and November highs are good targets to hunt for stops. It is a good risk to reward ratio, since they could dump their positions overnight or after a big news release.
My trading plan for today
Posted by junkie on 30th of Jan 2023 at 05:01 am
My trading plan for today is this. The manipulation has panned out as advertised with this overnight drop. If we hold the Friday's range into the open, the gap should be bought for a day trade. We may or may not post a one more higher high, as was the case on 11/14. Otherwise, we risk retesting the uptrend line around 11900 on /NQ and 4000 on /ES. That retest should be bought for a bounce trade.
With a cluster of Fib resistance at 4100 on /ES, we might have completed wave 5 of 3 on 4-hour charts. A pullback may not be shallow into Thursday, when big earnings reports are due.
Yes Junkie the SPX hasn't
Posted by steve on 27th of Jan 2023 at 02:42 pm
Yes Junkie the SPX hasn't even reached it's previous highs - will be interesting to see how the market acts as the primary cycles change starting next month once big tech is done reporting and FOMC as well
NYAD
Posted by marcorubin on 27th of Jan 2023 at 02:46 pm
NYAD