Season Finale coming soon 10815 up next
Looks like Euphoria phase is set to commence with a lovely golden cross on the 6hr chart.Though its looking really bullish i expect this week to be a precursor to the big move Monday the 13th with a lot of Chop on the LTF.
10350 i would still not rule out since it may just pop down to test the 50 day on the 6hr and get people to panic sell while creating liquidity for themselves and also liquidating the over leveraged longs. At present the 200 day on the weekly is at 10400 ish so nice support there .
Plus its no fun if it just goes up we are currently approaching the 50day MA on the weekly at 10815 where we need this momentum to keep up otherwise risk the 50 day moving further down and that ain't good.
On the upside i feel we are going to blast on through 10900 maybe week starting the 13th :) and look for just under 11K .
The reason i said season finale is that at that level we either fly up really fast or get knocked down a fair bit.
I mean seriously how long can the markets keep pumping? Be selective in your stock picks and scale out of positions your holding based on hopium.
10350 i would still not rule out since it may just pop down to test the 50 day on the 6hr and get people to panic sell while creating liquidity for themselves and also liquidating the over leveraged longs. At present the 200 day on the weekly is at 10400 ish so nice support there .
Plus its no fun if it just goes up we are currently approaching the 50day MA on the weekly at 10815 where we need this momentum to keep up otherwise risk the 50 day moving further down and that ain't good.
On the upside i feel we are going to blast on through 10900 maybe week starting the 13th :) and look for just under 11K .
The reason i said season finale is that at that level we either fly up really fast or get knocked down a fair bit.
I mean seriously how long can the markets keep pumping? Be selective in your stock picks and scale out of positions your holding based on hopium.
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