After the big down move yesterday, we now are between two important reversals (what if’s).
This means it will be tough to decide next direction, check out the chart below and you will see the following:
- Testing below the weekly bear (what if) 490.73
- Above weekly bull (what if) — light green 488.30
Tough call, need to wait for close.
Weird Pattern Data:
Downside SQQQ patterns data (which is a short nasdaq etf)
- Temp low on Monthly
Summary: New Shorts From this Rally
It still is unclear if there is any crash has momentum, but if you review VIX (which is still above monthly bull after being elected yesterday). And if you see the pattern of SQQQ as a temp low for monthly. Then you see the daily bears in SQQQ and SPXU still being held above (need to wait for close).
I have new insurance on after this rally from the lows on SPXU & SQQQ
