Quote:
Originally Posted by strykn
money was to be made today, i bet we bounce very fucking hard
i bet so many shorts piled in deep today, they gonna squeezeee emm
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Oh yes, you do play weeklies, hope u time the bounce ur looking for.
I'm looking for a bit of a longer play.
My analysis of the DOW 30:
- Hanging man showed up on Friday
- Bearish confirmation showed up today with the black candle.
- Stochastic and MACD is on that phantom downtrend
Please focus on the dotted channel lines. The rest of the lines are from the 5 year chart I was messing with.
Combine this with the following Economic Data Results from last week
- slightly lower than expected US Consumer Sentiment
- slightly lower than expected US PPI (deflation ??)
- lower US Retail Sales
My analysis: once that support channel is broken, I'm going to make a bearish trade against the dow.