Taking a shot at rising wedge trend analysis. Turned out pretty cool B).
Seems we had a false breakout in mid-May, late June and also a tiny one July 30th but Price is running out of runway here and still struggling to break above.
Best case we get an exhaustion overthrow, worst case we see programmatic selloffs again.
What can't go up, must come down.
GO BEARS!
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Stuck right at top of wedge today.
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What a beautiful exhaustion overthrow! Time for crash.
Global stocks began decline 2 weeks back and have sold heavily; they tend to lead declines by a few weeks so the end is very near IMO, look, EWJ/EWG vs SPX:
@ProfitHarvest, Amazing wedge how they hold on with nails at the end of the squeezy line lol
UnknownUnicorn7260700
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Man it’s depressing being bearish on days like today
ProfitHarvest
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@Glockman357, Not if you've already suffocated your emotion
DaddySawbucks
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@Glockman357, Ride the tiger man!
DaddySawbucks
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When the break comes it will sudden sharp surprize; got to be in it to win it, means we suffer some drawdown. I short dailies to reduce it, u can also buy daily calls and day trade em. Won't be long now IMO, been waiting on 3330, turned back at 3k exactly...
davidismyname
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It does look like very little runway left. Another stimulus would likely result in a short-term boost, but I can't imagine what would sustain that. Go bears!
@DaddySawbucks, haha, maybe that's why the market eerily creeped up today! If so, the new moon is on August 18, so let's hope things reverse then, or sooner. :)