A big rally by Monday close?

hajimow said:
I feel if nothing new happens, market should rally over 1% on Monday by close. We had recently a good size short term correction added with fear of escalating war which is now seems to be subsided.
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I think so too, in particular Nasdaq.
I think Bitcoin had bottomed @ 60k as well.
 
I guess if a rally takes place on Monday, some part of will come from short covering and adjusting positions. I expect a big drop on crude oil as well. I saw some signs of market trying to rally last week and specially on Friday that were suppressed because not all worries were settled but this possible rally can be a revenge rally. I will open my position tomorrow when futures open.
 
Maybe, and maybe not.
I think it will continue down.
Because, since January YM has been at the top of it's Yearly and Quarterly range.
The market will eventually find it's mean and come back to balance level.

The funny looking lines on my Daily chart are Yearly and Quarterly 50% levels.

Screenshot_1.png
 
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Of course it could bounce 1%. That's not much considering the NQs are down 7% since the 11th. Anything could happen in this volatile environment.
 
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