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We had a nice intraday rally yesterday and today it looks like its going to be another sell off. Things can be quite exciting for the intraday trader as the market keeps giving uptrends and downtrends in the 5 min chart. So, opportunities abound for intraday trades.
The 15 min chart shows how the Dow collapsed as it broke an uptrend line. If support cannot hold then there will be more selling today.
Since we are in a downtrend in the 60 min chart any rally up should be closed fast meaning intraday plays for longs while for shorts its alright to hold overnight. The breaking of trend line will usually send the market lower for a day or two.
Jan 04, 21 11:30 AM
In this week's chart lessons, we will have a look at bitcoin and other charts.
Dec 29, 20 07:47 AM
We should continue to be bullish on the S&P 500 as a weekly bottoming tail forms in this uptrend.
Dec 22, 20 09:27 AM
The SPX is still in a nice bullish uptrend, with it staying above the rising 20 MA and 50 MA.
Dec 15, 20 09:53 AM
December 14 2020 will go down in history as one of those moments where 2 sets of electors emerge for swing states in the US Presidential Election.
Dec 07, 20 10:04 AM
Despite mainstream media reports of a Biden win, Donald Trump is still contesting the election results.