After breaking out of this massive pennant, the market soared to new ATHs but has since lacked the energy for follow through. We are consolidating inside of a wide 100pt range.
THIS IS NEITHER BULLISH NOR BEARISH until we know a direction (though the current trend is up).
The market is developing a substantial volume shelf above $3668.00, which I see as a very substantial level.
While my belief is that the market will grind higher and put in a quick, parabolic move up to 3880 and then 4000, I don't believe the market is ready for that yet.
AAPL, AMZN, MSFT, GOOGL, and FB will determine the market's direction. These names are still below their September highs (minus google) and when they rip, the market rips. AMZN and FB will likely consolidate until earnings in my opinion.
THIS IS NEITHER BULLISH NOR BEARISH until we know a direction (though the current trend is up).
The market is developing a substantial volume shelf above $3668.00, which I see as a very substantial level.
While my belief is that the market will grind higher and put in a quick, parabolic move up to 3880 and then 4000, I don't believe the market is ready for that yet.
AAPL, AMZN, MSFT, GOOGL, and FB will determine the market's direction. These names are still below their September highs (minus google) and when they rip, the market rips. AMZN and FB will likely consolidate until earnings in my opinion.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.