"Not a dancing bear"
Pretty sure I am going to be viewed as a permabear after this blast.
Technical Indicators as I see them:
• RSI – Bearish
• Volume – The rally continues with weak volume
• Short term moving averages have become less bullish – still bullish though
Points of potential resistance:
• Yesterday’s R1: 275.63
• Fib Retracement: 280.36
• 200 Day Moving Average: 269-270
I remain bearish, however with the fed literally saying it has no problem building up a 4 trillion dollar balance sheet - it is shockingly bad for the dollar. This will be false improvement in the S&P but there is a chance it could rise in terms of dollars, because of the dollar losing value. I wish in hindsight I made my gold position significantly higher – however I will slowly be cost averaging into a bigger gold position.
I’m keeping my short going, however it currently feels like death by a thousand cuts.
If you are a bull – please lay out your logic as it will sincerely be well received.
Happy Trading!
Technical Indicators as I see them:
• RSI – Bearish
• Volume – The rally continues with weak volume
• Short term moving averages have become less bullish – still bullish though
Points of potential resistance:
• Yesterday’s R1: 275.63
• Fib Retracement: 280.36
• 200 Day Moving Average: 269-270
I remain bearish, however with the fed literally saying it has no problem building up a 4 trillion dollar balance sheet - it is shockingly bad for the dollar. This will be false improvement in the S&P but there is a chance it could rise in terms of dollars, because of the dollar losing value. I wish in hindsight I made my gold position significantly higher – however I will slowly be cost averaging into a bigger gold position.
I’m keeping my short going, however it currently feels like death by a thousand cuts.
If you are a bull – please lay out your logic as it will sincerely be well received.
Happy Trading!
Trade fermée: ordre d’arrêt atteint
Lost out on this one and was quickly stopped out with a 2% loss. Will look at setup for retracement near 2800.
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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.