DJI yearly chart looks a lot like AAPL at the top before the break
maybe it's time to retest 17000
maybe it's time to retest 17000
Gotta love ZERO RISK in the SP500 = $$$
- Thread starter makloda
- Start date
One possible interpretation:
I call these types of things cup and handle like patterns where they commonly retrace from the highest lip down to the 61% fib... this one went past that, but still recovered fairly strongly. It could also be considered IHS-like, although it's not coming from a prior downtrend so I tend to trust those less in this context.
The "bullshit market" side of me wouldn't be surprised to see this thing head up to the 38.2% or 50% extension. The "justice" side of me of course wants to see it correct. There's no way the Fed is increasing rates... on the same token, I do not believe the market has actually priced in a rate increase as has been alluded to in some media outlets.
I call these types of things cup and handle like patterns where they commonly retrace from the highest lip down to the 61% fib... this one went past that, but still recovered fairly strongly. It could also be considered IHS-like, although it's not coming from a prior downtrend so I tend to trust those less in this context.
The "bullshit market" side of me wouldn't be surprised to see this thing head up to the 38.2% or 50% extension. The "justice" side of me of course wants to see it correct. There's no way the Fed is increasing rates... on the same token, I do not believe the market has actually priced in a rate increase as has been alluded to in some media outlets.
Option expiration next week, markets typically rise that week. Positioning myself for that.
It is the 3rd week, not next week.
