People got too short too quick, my bias to long side.
Included are all my levels I am watching, nothing changed since last week except the price.
Sellers did not seem very motivated Friday, so Thursday was the "important" day for me last week. This one candle is slightly troubling and I would like to see to see it worked during normal trading hours.
Each line on my chart should be a major resistance/support point, but seeing what happened last week I think shorts got too short too fast and they might be in for this week.
Conversely, things don't really seem *that* great and I think a lot of the earnings beats are already priced in -- look at NFLX for example.
So I am hedging around the $330 area to the short side. The last few times we have gotten up here sellers have been able to get us under $320 and $310 pretty quickly, so I would expect more of that, and I also think it would be event driven like a mean tweet from the Donald or something of that fashion.
My primary trade here is to long side with targets around $327
Sellers did not seem very motivated Friday, so Thursday was the "important" day for me last week. This one candle is slightly troubling and I would like to see to see it worked during normal trading hours.
Each line on my chart should be a major resistance/support point, but seeing what happened last week I think shorts got too short too fast and they might be in for this week.
Conversely, things don't really seem *that* great and I think a lot of the earnings beats are already priced in -- look at NFLX for example.
So I am hedging around the $330 area to the short side. The last few times we have gotten up here sellers have been able to get us under $320 and $310 pretty quickly, so I would expect more of that, and I also think it would be event driven like a mean tweet from the Donald or something of that fashion.
My primary trade here is to long side with targets around $327
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