Note: this is for the short term.
According to my previous chart, you can see that I called for a distribution zone. I believe this is still in the cards, the activity above 4k lacks volition in my opinion, and I feel we will climb to new highs rather begrudgingly before finally correcting.
I think we will go for the GS price target of 4.8k+, although this chart ends at around 4,750, I believe it may go a bit further than that - this is simply a conservative estimate based on fib and trendline.
This is the last wave since our pump from 1800 - meaning that the top of this _should_ be followed by a larger correction down towards 3k, and maybe even lower into the 2k level. The current longer timeframe channel shows that this is possible, although I know how excited everyone is, with many people saying "it'll never break 3k again." (We'll see about that)
I will be selling at around the 5k level via futures, taking advantage of the premium, and then shorting big on any extended pump we get.
According to my previous chart, you can see that I called for a distribution zone. I believe this is still in the cards, the activity above 4k lacks volition in my opinion, and I feel we will climb to new highs rather begrudgingly before finally correcting.
I think we will go for the GS price target of 4.8k+, although this chart ends at around 4,750, I believe it may go a bit further than that - this is simply a conservative estimate based on fib and trendline.
This is the last wave since our pump from 1800 - meaning that the top of this _should_ be followed by a larger correction down towards 3k, and maybe even lower into the 2k level. The current longer timeframe channel shows that this is possible, although I know how excited everyone is, with many people saying "it'll never break 3k again." (We'll see about that)
I will be selling at around the 5k level via futures, taking advantage of the premium, and then shorting big on any extended pump we get.