Double top today?
- Thread starter Laissez Faire
- Start date
Looks like Calhoun as a cartoon. I sure hope he didn't tell any of these women he befriends to put all their money in UVXY.
This is gotta be the beginning of the double-top. It's gotta be. There is no way the price can go up any further. No way!! RSI's already >70. Three more days. Three more days' all I ask.
stonks only goes up!
As a technician, you "know only what you see". That said, the "celebrated 4200 break" is not yet a done deal. Market would need to hold >4200. Until then it's a "possible false upside break/double top". And even if 4200 holds as support, there is 4325 just above... the "61% Fib retracement".... also a "logical target for a W2 bounce in a big bear market".
Unfortunately, the market can retrace all the way back to 4800-ish and still be bearish. (In EW terms... "a W2 can retrace 100% of the W1 decline".) For a new bull market, SP needs to break above and hold 4800 as support.
FWIW...
Unfortunately, the market can retrace all the way back to 4800-ish and still be bearish. (In EW terms... "a W2 can retrace 100% of the W1 decline".) For a new bull market, SP needs to break above and hold 4800 as support.
FWIW...
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Is that "currency adjusted"?
Mostly agree.
The thread was mostly meant as comical relief, though. Had me a good laugh when I first found those pictures.
Mostly agree.
The thread was mostly meant as comical relief, though. Had me a good laugh when I first found those pictures.
This market is fine for skilled traders. But for investors who want to make a longer term commitment... we're in "no-man's-land".
that double top is looking pretty good for the bear today 5/19/23...looks like bears are getting laid today....i mean paid..lol