S&P 500 Comes Back From Extreme "Extreme"
In the S&P 500, we observe a very similar scenario to the Nasdaq (see link to the NQ chart).
It’s worth noting that we’ve seen this situation a few times before: the price traded outside the orange fork, moved back into the fork, but then left behind a "Hagopian" and shot back above it.
This is irrational market behavior caused by artificial buying pressure (Gamma Squeeze).
Now, we see the market bouncing off the 1/4 line between the warning line and the U-MLH of the white fork. And yet again, we’re trading within the orange fork.
What now?
Back up again or is it really heading down this time?
Read my lips: "I - Don’t - Know." §8-)
Buuuut, the projection and the extent of the over extension lead me to believe that this time, it’s going to crash!
Like in the NQ, my stance here is **short** for the coming weeks, and possibly even months.
It’s worth noting that we’ve seen this situation a few times before: the price traded outside the orange fork, moved back into the fork, but then left behind a "Hagopian" and shot back above it.
This is irrational market behavior caused by artificial buying pressure (Gamma Squeeze).
Now, we see the market bouncing off the 1/4 line between the warning line and the U-MLH of the white fork. And yet again, we’re trading within the orange fork.
What now?
Back up again or is it really heading down this time?
Read my lips: "I - Don’t - Know." §8-)
Buuuut, the projection and the extent of the over extension lead me to believe that this time, it’s going to crash!
Like in the NQ, my stance here is **short** for the coming weeks, and possibly even months.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.