My guess based on the MOMO of this rally. I just don't think it is going to quit yet. I feel like it is going to go mostly sideways but generally head for that 1.236 fib level by mid to late week. For the bears, there is a gap on the 4th that has not been filled and that gaps also appears in the VXX. So, I think the bears may get their chance in the next week or so. When the market sees this much FOMO/MOMO it usually ends with a bang (e.g., June and Sept). I am just sitting on the sidelines until this thing makes an obvious decision one way or the other.
Just to completely contradict myself, here is a more bearish look of the current rally.
Hope it helps and good luck.
Just to completely contradict myself, here is a more bearish look of the current rally.
Hope it helps and good luck.
Commento:
Stuck at a major trend line. Be interesting to see if it can break it.
Commento:
So far, not that bad of a guess.
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However, it could not break that trend line.
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Tuesday morning update
Commento:
I don't know. Looking weak.
Commento:
A bit stronger this morning.
Commento:
In case anyone cares. Here is a Thursday (11/19) at 10:15am uipdate.
