The markets have been relatively quiet over the past few days, and both the NDX and SPX are struggling to surpass their April 4th highs of 13204 and 4180, respectively. It appears that the markets are currently forming a short-term rolling top formation, which could typically signal an impending severe correction. (note that current conditions are far from typical)
However, the current market sentiment is neither overly bullish nor bearish, which could indicate a lack of long-term stickiness. Additionally, the current conditions are not typical, with the one-year bullish high of roughly 38 being significantly below the historical average. It's worth noting that bullish sentiment has been trading below its historical average for almost 17 months now.
For speculators only
For those interested in shorting the markets, options such as PSQ, QID, SH, or SSD could be considered. QUID and SSD are 2x leveraged, and one should deploy funds in lots rather than making a single large investment.
Short term Trades and Trading ideas
Forum rules
Some posts will be locked as the idea is to post relevant material only and limit the noise. However links can be created to another post that opens the material posted under a locked topic for further discussion
Some posts will be locked as the idea is to post relevant material only and limit the noise. However links can be created to another post that opens the material posted under a locked topic for further discussion
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SOL
- Power VS Force
- Posts: 3267
- Joined: Sat Sep 26, 2020 7:32 am
Short term Trades and Trading ideas
When the words short term appear under any post; the same conditions listed in the Market update under the short term category apply
The end is always near; its the beginning and how you live each moment that counts the most
The end is always near; its the beginning and how you live each moment that counts the most
-
SOL
- Power VS Force
- Posts: 3267
- Joined: Sat Sep 26, 2020 7:32 am
TGB Charts for xkosmox
The Monthly chart of Copper
Support: Strong zone of support in the 3.00 to 3.30 range
The Monthly Chart OF TGB
Support: 0.93 to 0.99
The weekly chart of TGB
Trading at support now. Ideally, it does not close below 1.20 on a weekly basis. The current pattern indicates a test of the 2.55 to 3.00 range within the next 12-15 months.
The daily chart of TGB
The hourly chart of TGB
On the weekly, daily and hourly, TGB Is trading in the highly oversold zone, hence decent chance of a bounce
Support: Strong zone of support in the 3.00 to 3.30 range
The Monthly Chart OF TGB
Support: 0.93 to 0.99
The weekly chart of TGB
Trading at support now. Ideally, it does not close below 1.20 on a weekly basis. The current pattern indicates a test of the 2.55 to 3.00 range within the next 12-15 months.
The daily chart of TGB
The hourly chart of TGB
On the weekly, daily and hourly, TGB Is trading in the highly oversold zone, hence decent chance of a bounce
When the words short term appear under any post; the same conditions listed in the Market update under the short term category apply
The end is always near; its the beginning and how you live each moment that counts the most
The end is always near; its the beginning and how you live each moment that counts the most