Merry Xmas Steemers Yesterday the Dow Jones made its Biggest ONE DAY Rise EVER!!! adding over 1000 PIPs albeit after successive DOWN Days so lets take a look at the Chart to find Clues for the FUTURE Price
Before we look ahead lets take a look how where we are ..here is my chart from September showing this MASSIVE SELL Confluence https://twitter.com/BANGONtrader/status/1044908152544792576 on the SP500 this not only enabled me to Sell all my stocks at the HIGHs but also to benefit from Short positions that make money when markets Fall
WHY did Stocks Bounce so Aggressively Yesterday? Well you may hear lots of FakeNews in the Media it was Donald Trump telling folk to BUY lol Quite Simply the SP500 had reached the Support of its LongTerm (10 year)Trendline something I highlited previously https://twitter.com/BANGONtrader/status/1077259457317474304
So begs the question 'What Next' If we look at the #Dowjones Chart it hasnt actually Fell to its Longterm Trendline Yet it found Support on a Primary Diagonal that Extends to 2000 High Which is Solid but should prove only Temporary I fully expect another Plunge to Lower Trendline ..see Chart ..![Wall Street_20181227_11.45.png]
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If like me you are interested in Investing or indeed short term trading feel free to checkout my twitter feed @BANGONtrader or #MULTIDIAGONALS its 21stcentury TechnicalAnalysis for those seriously looking to increase Wealth
All the Best in the #NewYear
what a stupid rally it was
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