Thanks dean, that's interesting. Although I think he makes too much out of this candle.
What I see: very long shadow - it hit the trendline (that's a good one), but was rejected and closed down. Not very much, but the shadow is big relative to the candle. So odds are good the bottom rising trend line will be tested. But that's only at around 6661 in a week from now. MACD is supportive for going up after this little correction. RSI is also still supportive.
So a drop (or even a huge drop)? Not in the cards yet I feel.
However, S&P is topping overall against commodities. That's also where I am invested (does it show? 😋)
Although I do have a LOT of VIX calls running for a major correction 😁. Or as a hedge. Take your pick...
https://www.youtube.com/watch?v=K3qMpcjLZGg
Thanks dean, that's interesting. Although I think he makes too much out of this candle.
What I see: very long shadow - it hit the trendline (that's a good one), but was rejected and closed down. Not very much, but the shadow is big relative to the candle. So odds are good the bottom rising trend line will be tested. But that's only at around 6661 in a week from now. MACD is supportive for going up after this little correction. RSI is also still supportive.
So a drop (or even a huge drop)? Not in the cards yet I feel.
However, S&P is topping overall against commodities. That's also where I am invested (does it show? 😋)
Although I do have a LOT of VIX calls running for a major correction 😁. Or as a hedge. Take your pick...
Same here !
Excellent observations based on this collage of graphs.
Stay tuned every week for more graphs and interesting tidbits I saw during the week 😊