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Posted 14 July 2023 - 09:06 AM
Just unloaded my ES calls - Time to take profit.......................
I'm seeing a red flag with this run up - Internals in negative divergence since yesterday..................................
Now internals went into the distribution mode, likely we are seeing a top here ......................
Edited by redfoliage2, 14 July 2023 - 09:14 AM.
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Posted 14 July 2023 - 09:07 AM
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Posted 14 July 2023 - 09:08 AM
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Posted 14 July 2023 - 09:35 AM
Yup in my view this is a very scary market so I'm willing to hold off on adding to my short as I'm sure my 4475 level will be seen again. This has become a blowoff top and never in history that has turned out well. A healthy market moves both up and down like a staircase, always so easy being a bull lol. Since 1987 every time whoever "they" are push the market to the limits usually just before they sell it off hard to make new support levels but are able to say look we had a big percentage loss so its time for back up. This move smells to me like we could easily see a 5-10% correction start at anytime so I'd be treading carefully....
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Posted 14 July 2023 - 01:39 PM
Just unloaded my ES calls - Time to take profit.......................
I'm seeing a red flag with this run up - Internals in negative divergence since yesterday..................................
Now internals went into the distribution mode, likely we are seeing a top here ......................
Today the market unable to continue the rally on good news from the bank s earnings, that also indicates a top here. Depending on the geographic development over the weekend I'd not be surprised if we see a sizable gap down Monday ..........................
Edited by redfoliage2, 14 July 2023 - 01:47 PM.
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Posted 14 July 2023 - 05:36 PM
