BULLS !! Where are you gone ??? After we had a big drop from 1130 level bulls havent been able to make a really nice rally, only for 1 day this week, but the last days have been terrible for the bulls after such a big drop, telling me that they cant push us much higher. We are at resistance 1100 and gets rejected at MA(200) CLASSIC type of reversal in a bear market.......surprise surprise. I believe we are VERY near another short term top, but still believe that 1130 level was the top for a long time. I think the maximum upside potential IF we move higher is 1107, which is the downtrendline from highs and 61.1% fib retracement. So lots of resistances here, but I feel that today we could make another doji or reversal candle and then a possible market crash is looming. I'm thinking we will get a really ugly move, a likely CRASH very soon , and we have OPEX on friday, so they may MANIPULATE markets around this level until friday. Next week we have GDP numbers 27. august which should be a trigger to crash the markets, so next week WONT be bull friendly. I loaded up a good chunck of TZA under 34 in 33.8, which I'm very happy for. I dont believe markets is able to move a lot higher and IF they are.... well just gotta wait 1 or 2 more days and then we crash and burn.
There is absolutley nothing here to be bullish about other than the permabulls.
Have a nice day !
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