$SPX (monthly) approaching parallel channel resistance.. parallel history going back 30+ years.
$SPX (daily) closed above ATH on friday. Currently riding blue ascending channel. Watch for dual channel resistance somewhere around 3464 ideally ideally arriving on wednesday to friday.
$SPX (1H) I’ll look to short if it rejects at dual channel resistance.
$BIDU daily long setup at 118.540
$AXP Long set up. DBR daily demand zone at 93.49
$INTC (daily) Long setup at 46.51
All other nontriggered supply and demand zone setups remain active:
$TSLA (daily) approaching channel resistance within intraday ascending.
$TSLA (15mi) currently in a ascending channel. watch for dual channel resistance.
8 thoughts on “8/23/2020 Sunday update”
60 plus points to channel resistance on SPX, why not a long into it?
Bc we dont know when itll get there or even if it gets there. Its risky to enter ATH breakout with market being held up by 2-3 stocks at this point. I prefer to wait for the resistance or support, supply/demand trades.
Also, if you got long here, where’s your stop? Anything to the daily TL is in play. That’s a lot of risk, especially with options.
The NFLX Short seems to have triggered, The price blew through the top like a freight train. When should we look for the pull back? thanks
if it doesnt react to zone, its a easy pass. On to the next trade.
Tesla looks like its using the wrong chart?
Its log scale if youre not getting the same trendlines as me.