I'm seeing a little diamond top up here. I'm considering short below.. It would be bullish if it broke above but I'm not going long way up here. Watch for MSFT to land on support around the breakout point that descending pattern below.
Commento:
let this soak in a little
Commento:
there's a possible 80-day cycle low in market that's due now/soon. I've been thinking that we would have some type of september rally in equities so it's possible this goes higher before lower.
Commento:
Perfect- waiting for upper trend on this pattern.. also watching the stoch/rsi for confirmation:
Commento:
Commento:
decision time
Commento:
Possible break above
Commento:
Commento:
OK FOLKS, DECISION TIME. I'm strangled here- mostly short/put options but hedged a little with cheaper calls if we move up strong. I should make money either direction.. I ultimately suspect main direction is down - even if we get a fake out above. I will most likely increase my short position in any spike above.
Commento:
crack..
Commento:
I sold half my positon when msft dropped and held the other half.. glad I sold some off. I can't discern where the bottom diamond line is. These are surely the most complex of the patterns to try and trade or identify. This is what most often happens with diamonds.. They tend to be bearish... unless they're bullish and it breaks above :)
Commento:
now above? Continuation? I'm not counting on it. I may hold a near end 2020-21 put and wait for correction.
Commento:
higher higher higher- Incredible to see how far some of these stocks have gone. I was wrong on MSFT but it still looks like a bubble to me. Volume trend is a red flag