7 More Bullish Days Before The Expected Sell Off
I am expecting another 7 trading days of bullishness to reach its measured move of 39,275 area.
Price is bumping its head up above the 3-month chart's trend channel in this new secular bear market. This whole rally was a bearish rising wedge on the monthly chart. Before it can rally the whole 100% like I expect in 2026, it needs order flow and the slight pullback in 2022 just wasn't enough. It needs more shorts for the squeeze.
My target is 24,500 and the rising monthly 200sma. The rising monthly 200sma is lining up perfectly with the third trend channel's bottom. There is the Fourth channel bottom for the upcoming 2029's 48% sell off that I don't believe anyone will see coming.
2026-2029 will be extremely bullish and will wipe out this 37% sell off. It will also be used as fuel and order flow for that 48% sell off in 2029.
What is a telling piece of evidence is the monthly's 21ema is flat as a pancake and is not being respected = range. This tells me that any pops above it will get sold into. Same setup I use on the 5 minute.
The Daily 200sma is also flat and not respected. Not indicative of a bullish trending market. I am giving the benefit of the doubt to the range and not that it is now going to trend.
Notice the Weekly's 21ema is chopping around right through the middle of price? Not trending AT ALL. I am expecting it to continue in this fashion.
I am just reading what price is telling me and the evidence is clearly here for a range sell high play down to the bottom of the range. I am not seeing bullishness yet.
Price is bumping its head up above the 3-month chart's trend channel in this new secular bear market. This whole rally was a bearish rising wedge on the monthly chart. Before it can rally the whole 100% like I expect in 2026, it needs order flow and the slight pullback in 2022 just wasn't enough. It needs more shorts for the squeeze.
My target is 24,500 and the rising monthly 200sma. The rising monthly 200sma is lining up perfectly with the third trend channel's bottom. There is the Fourth channel bottom for the upcoming 2029's 48% sell off that I don't believe anyone will see coming.
2026-2029 will be extremely bullish and will wipe out this 37% sell off. It will also be used as fuel and order flow for that 48% sell off in 2029.
What is a telling piece of evidence is the monthly's 21ema is flat as a pancake and is not being respected = range. This tells me that any pops above it will get sold into. Same setup I use on the 5 minute.
The Daily 200sma is also flat and not respected. Not indicative of a bullish trending market. I am giving the benefit of the doubt to the range and not that it is now going to trend.
Notice the Weekly's 21ema is chopping around right through the middle of price? Not trending AT ALL. I am expecting it to continue in this fashion.
I am just reading what price is telling me and the evidence is clearly here for a range sell high play down to the bottom of the range. I am not seeing bullishness yet.
