Sorry everything is a bit messy, I prefer default lines to be size 3 and wanted to highlight the red/purple line for publishing, so its a 4.
Anyway, It has to clear the magenta line to pull any bullish traction or else dip lower. And although many see the beginning of a bull run, I really have no faith in it.... at least for the next week or so. It bears mentioning that it is strange that this is options expiration week and so next week should be a reversal but for some reason I see it being delayed another week -- which should put it at the same time as the Fed meeting. Somehow that would be a bullish catalyst,
Or maybe we go higher from here -- everything would fall in line nicely that way, and we'd dip lower after the Fed meeting and raising of interest rates by .75%+.
Anyway, I'm sharing this for the important lines that I believe most people are watching. So that's the big takeaway here, everything else is personal speculation.
Anyway, It has to clear the magenta line to pull any bullish traction or else dip lower. And although many see the beginning of a bull run, I really have no faith in it.... at least for the next week or so. It bears mentioning that it is strange that this is options expiration week and so next week should be a reversal but for some reason I see it being delayed another week -- which should put it at the same time as the Fed meeting. Somehow that would be a bullish catalyst,
Or maybe we go higher from here -- everything would fall in line nicely that way, and we'd dip lower after the Fed meeting and raising of interest rates by .75%+.
Anyway, I'm sharing this for the important lines that I believe most people are watching. So that's the big takeaway here, everything else is personal speculation.
I usually try not to tell you what to do -- too crowded there. I'll point out what price points/trends/patterns the pros are looking at and let you interpret what that means for your portfolio.