Five Percent Rally Coming?

Looks like price can break up out of down channel. First Resistance at 4220, then stronger R at 4300. Target in the box. 200 pips = 5%.

Been oversold badly for weeks. Time for relief rally; a technical breakup. Once confidence returns the bullishness could get quite furious.

Maybe you don't feel real good about buying now, that's reasonable. You don't want to get caught short in a massive pump either.

Expected timeframe ~ two weeks IF price mimics last rally, went up for ten sessions in March. Small caps moving up, DJI leading.

Play it in TQQQ, UDOW, SPXL, TNA; SPY / QQQ / DIA / IWM calls, if you dare. Not advice; just another WAG: GLTA!

Commento:

Here it goes!

Commento:

Nice one! Holding five bull spreads overnight. Not chasing; often after a breakout we see a pullback to the .38 - .62 fibo. This so strong moving from oversold probly won't reset much.

Commento:

Gonna get higher imo. Breakout to upside. After the covid crash breakout there was a .62 fib pullback next day provided entry for the massive multiday rally... when the shorts unwind this will pump like Hell. Do not be short here imo.

Trade attivo:

Closed longs on quite a gap, try a small short for ?gapfill? Might get a partial gapfill imo.

Commento:

Back in cash. Do not chase this retail rally imo. Two gaps to fill, could be a sudden surprise next week, idk.

Apparently most of the money flow is retail FOMO atm. Smart money is sitting on hands laughing.

Commento:

At a critical juncture the breakdown point from 5 May, a former support turned resistance. Might consider closing longs could get rejection or a pullback before higher from this price.