Posted by DigiNomad on 8th of Aug 2024 at 01:55 pm
This is a critical zone. Push above and get a massive squeeze.
Don't put it past Yellen's team to make a timely announcement to
goose market into squeeze mode. It has happened pretty
consistently at technical turning points over the last year or so.
Next stop after this level is 5400. Massive supply
sitting there, but a big enough squeeze could get us right through
(e.g. if QE was announced instead of just being in the shadows)
Agreed. Nice insights, DigiNomad. With the move above the
78.6% retrace of yesterday Hi/Lo, high probability of 100%. Next
stop would be the 8/2 gap at 5364, then 5400 and the supply
zone you mentioned, coinciding with 8/1 gap 5446 / 50SMA @
5444.
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This is a critical zone.
Healthy market we have here. I wonder how many retirees ...
Posted by DigiNomad on 8th of Aug 2024 at 01:55 pm
This is a critical zone. Push above and get a massive squeeze. Don't put it past Yellen's team to make a timely announcement to goose market into squeeze mode. It has happened pretty consistently at technical turning points over the last year or so. Next stop after this level is 5400. Massive supply sitting there, but a big enough squeeze could get us right through (e.g. if QE was announced instead of just being in the shadows)
Agreed. Nice insights, DigiNomad. With
Posted by te22 on 8th of Aug 2024 at 02:05 pm
Agreed. Nice insights, DigiNomad. With the move above the 78.6% retrace of yesterday Hi/Lo, high probability of 100%. Next stop would be the 8/2 gap at 5364, then 5400 and the supply zone you mentioned, coinciding with 8/1 gap 5446 / 50SMA @ 5444.