ST RESISTANCE then RALLY RESUMES

GS testing 340 again.....

Not a very pretty weekly candle combo on GS...especially if it goes out under 340...

Naz now strong enough that unless a pull back exceeds 11400, may be right back in bullish camp next week.

see how rest of today plays out....

also watching to see if 2340 gets reclaimed on REIT....

That is likely your stick save or not pivot on REIT...

Also noting things like DFS..and will watch other financials for similar action...

Failure to stay under that yellow line is is usually bullish in this type of situation....

Will be glad when we finally breakout of the slop zone...whichever way that is....

Would not mind having to be so fast on my feet for a while.

I think Naz 11400 is as good a bull / bear line as any now....

Edited by K Wave, 20 January 2023 - 02:03 PM.

Well isn't this getting excitiing, profit stop 3960 and I'm willing to start a short build there....

Assuming REIT can reclaim 2340, still seeing this as a possiblity.

Sustained action above 2400 would likely mean no CRE bear market...

But back below today's low, then we see what bears can do.

This must be the day for them to get rid of the deep in-the-money put holders for the OpEx  .....................

Edited by redfoliage2, 20 January 2023 - 02:44 PM.

Does REIT have a test of the big 2 hour downtrend line left in the tank??

Could coincide with perhaps something like this on NDX..