Three levels of support for bulls now, as shown on the NASDAQ daily chart.I have no idea what's your feeling when you read the chart. But, I can tell you my felling: A climax run for the bulls is around the corner !
yes. it really is. Once RSI breaks out 70, I bet you will see a bull's home run. It should be very nice and powerful ! Enjoy !
I believe this bull's home run will kill many bears, especially for those full of short positions without any hedging or protection.
As mentioned last night, the Bulls and bears targets should be watched closely today. And the result of the battle is that Bulls easily reached their target. Therefore, bulls win.
To follow the trend, in my opinion, is to be a bull until all three bulls' supporting levels are broken. Especially, the NAZ 1770 level, as mentioned several times before.
However, please also notice the divergence marked in the chart. Divergence is just a warning sign for the bulls who are full of long positions. It doesn't mean the market will go down immediately. on the contrary, it usually means the market may go higher very quick, but then will pull back hard. The issue is you don't know when the pull back will come. So if you jump in as a bear when you see such divergences, you may get burned and wiped out before you see the market's actual pulling back as expected.
