Chopped mosted of the day which help round off that head...
If I'm right and these bank earnings disappoint we should drop to 386 and complete this head.
Same rising wedge can be seen on ES,NQ, and QQQ.
Still overbought on the hourly.. but the biggest reason I think we have a chance of a significant drop tomorrow is that the VIX daily Candle closed completely outside its daily Bollinger bands; everytime that has happened the vix has gapped up the next day significantly.
Also this a squeeze.. I was expecting this the first week of January so when It didn't happened I figured we wouldn't get a rally.
Same thing happened last year towards the end of December; Go look at your charts and you'll see it.
First sign of a squeeze in the market is that all the MEME stocks start catching a bid; it happened last December and now its happening again. Just go look BBBY ,GME,UPST,FUBO .. all of the mention have rallied 20% in the last 2 days...
With that being said... wait until Spy and QQQ break this uptrend then go short.
1st target
390
2nd target
386
Final target 380..
I don't know if they'll break 380 before the next fed meet,... Alot of the actio ln will be determined on earnings now
P.S indicators suck in squeezes
If I'm right and these bank earnings disappoint we should drop to 386 and complete this head.
Same rising wedge can be seen on ES,NQ, and QQQ.
Still overbought on the hourly.. but the biggest reason I think we have a chance of a significant drop tomorrow is that the VIX daily Candle closed completely outside its daily Bollinger bands; everytime that has happened the vix has gapped up the next day significantly.
Also this a squeeze.. I was expecting this the first week of January so when It didn't happened I figured we wouldn't get a rally.
Same thing happened last year towards the end of December; Go look at your charts and you'll see it.
First sign of a squeeze in the market is that all the MEME stocks start catching a bid; it happened last December and now its happening again. Just go look BBBY ,GME,UPST,FUBO .. all of the mention have rallied 20% in the last 2 days...
With that being said... wait until Spy and QQQ break this uptrend then go short.
1st target
390
2nd target
386
Final target 380..
I don't know if they'll break 380 before the next fed meet,... Alot of the actio ln will be determined on earnings now
P.S indicators suck in squeezes
