So far they keep moving the right direction, I want to see a break higher with the charts moving lower, that will likely be my 2nd half Put entry.
1 min chart has had 3 hours, it only needs about 15 minutes to confirm, no confirmation at all.
2 min chart deterioration making new lows intraday, this is what I want to see, this is the way we separate a false move from a real move, remember BIDU back in April, it's nearly a fractal carbon copy, just on a larger scale.
3 min moving to a new leading low
15 min also made and moving to a new leading low.
These are very rough targets based on price pattern measuring implications of both the larger triangle and the bull pennant today, they'd suggest a target in the lower $690's, I don't know if we get that or not, you have to consider a lot of other things, from a psychological standpoint, $700 would be the strongest move as it is a century mark, the human mind gravitates toward whole numbers and $700 would be a very strong target, it's not that unrealistic.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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