jonnyfrank wrote: ↑Mon Nov 14, 2022 6:31 pm
SOL,
To be clear, do you think the upsides of DOW you mention will be hit AFTER a slight pullback between Nov. 15-22 or do you think it is rocket action straight up?
I called Powell; his secretary stated he was too busy thinking of new ways to screw this market to chat.
To answer your question in depth one would need to be a wizard, TA specialist and have a bit of a knack of looking into the future.
Short-term analysis is tough, what you are asking falls under the very short-term category, which is 10X tougher. Looking at the daily charts, the market should let out steam for a few days, but that does not mean they will unless Jerome comes out with a new turbocharged shotgun. Overall, the action of the past few days has been quite bullish, and the Dow could potentially challenge the second targets, which falls in the 35K, too early to focus on that yet.
Ideal setup, the Dow tests former resistance turned into support which falls in the 32,900 range give or take 150 points. And from there, rally to the suggested targets.
The Nasdaq has passed one test it traded over 700 points in less than a week, two days to be precise, so it could potentially roar 1500 to 2100 points very quickly
