today's huge up move might have come as a surprise to many, but to the best technicians (me EXcluded), it was very clear. today's news moved the market right? I don't beleive so. Supply, Demand, and Price moves the market. The news is always just convieniently around so that the media has something to talk about.
Yesterday, technical signals hit in all directions. the best 2 signals are in the graphs below. LEH was my holding and a good indicator of the financial sector and SPX is usually the most technially sound of all the indexes. together, or even individually, it told us to be more cautious with our short sells and its not a bad time to either lighten up on our shorts or take a gamble on a long position.
Yesterday, technical signals hit in all directions. the best 2 signals are in the graphs below. LEH was my holding and a good indicator of the financial sector and SPX is usually the most technially sound of all the indexes. together, or even individually, it told us to be more cautious with our short sells and its not a bad time to either lighten up on our shorts or take a gamble on a long position.
So what did i do? Trying a new thing, i sold nothing. i held ground. i held my stops. I didn't take profits. I'll be holding all my positions until i get stopped out. No panic selling tomorrow.
Below shows my view on where the market will go next. Purely just a prediction. More validation tomorrow is key.
Bashful Bulls EXCLUSIVE: For now, i am looking into a long position in MOS or POT. (bonus chart below).
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