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https://findependence.org/how-to-trade-the-gap/?gclid=CjwKCAiAi_D_BRApEiwASslbJ1wqd3f8-tBY2Eb9Q-sjc_RYkZrefjV6LQt3r3lYf2F1_3PnUc2evRoCpW0QAvD_BwE
We are looking at Continuation gap, the market rushed and did not build enough resistance. Traders will see it as a re-entry if the trend reverse. Additionally there is a bearish pattern (hanging man) on the S&P's charts, if people that bought Friday sell we could see a sell-off.
Looks like the market prefers a low dollar vs no yield high gold. I think the markets went ahead of themselves if Monday closes below last Friday , we could have a sell off, aiming back to January 5th levels - let's see.
Hi Geng, SPX formed a hanging man on Friday's daily and weekly charts. IF Monday’s candle close below Friday’s opening price this should confirm the bearish nature of the pattern for the markets.
Non-farm payroll update today, let's see how the dollar performs. Gold/Silver took a hit morning, price of commodities like oil could be under pressure. Said that I am still holding my BTC, 60K next target as per JP Morgan.
indeed :) Is laying low according to Bloomberg/CNBC , he is not CEO anymore, buying BAba is like buying Amazon 5 years ago, stock been volatile mostly because Trump, I expect more stability under Biden. I may dip my toes if it get closed to 210 - for the braves.
Some opportunities thanks to Trump, with Chinese blue chips. Alibaba for exemple is getting hammered in the open market thanks to Trump's last standoff with China (more a market manipulation than anything if you ask me), on a possible ban, SP about to visit the bottom of the long term trend (around 205/210). Very solid company that should do well under the Biden's administration. Even delisted, shares are transferable to 8 shares in HK, or you can buy from HK exchange via etoro. DYOR. GLA.
I recommend this book for anyone interested in tracking and analyzing market behavior
https://www.goodreads.com/book/show/212102.Technical_Analysis_of_the_Financial_Markets