Hey all,
I've been strong on the idea that we are currently redistributing on the next leg lower and are somewhat repeating the exact same patterns we made ahead of the March rally that faked many into flipping bullish. I believe we will redistribute in an eerily similar manner, especially considering what the indices-moving names are doing. Considering history, next week should be choppy, possibly testing new lows on certain names on the Q's and on the Q's itself, only to bounce in an incredibly strong way that will fake many into being bullish (as it happened in March). I warn you guys, even though I believe we will either reach or breach critical resistance at 314, I firmly believe will all be a fakeout rally ahead of an acceleration downwards. Be careful of traps to both sides and best of luck in your trading!
I've been strong on the idea that we are currently redistributing on the next leg lower and are somewhat repeating the exact same patterns we made ahead of the March rally that faked many into flipping bullish. I believe we will redistribute in an eerily similar manner, especially considering what the indices-moving names are doing. Considering history, next week should be choppy, possibly testing new lows on certain names on the Q's and on the Q's itself, only to bounce in an incredibly strong way that will fake many into being bullish (as it happened in March). I warn you guys, even though I believe we will either reach or breach critical resistance at 314, I firmly believe will all be a fakeout rally ahead of an acceleration downwards. Be careful of traps to both sides and best of luck in your trading!