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Strategies & Market Trends : TRIPLE TRADES
OPEN 7.290+13.4%Jan 9 9:30 AM EST
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To: Bull RidaH who wrote (506)2/24/2021 4:03:21 PM
From: Bull RidaH1 Recommendation

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Fiscally Conservative

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SPX - The prior momentary breakout from the megaphone on the index failed nearly as quickly as Trump backed down from his march on the Capitol Building on Jan 6th. Did someone not tell him you must KNOW the outcome of a battle before you enter in to it? Ahhhh... but I think he DID know... and got exactly what had been planned.

In any case, the very fact that the index is stalled out in this megaphone pattern is bearish as can be... and much like I dont expect NFLX to see its 644 diamond pattern target, I don't expect the SPX to break out up from this megaphone pattern and achieve a further upside objective. It's being stalled here, at these high levels, while you-know-who liquidates. Once that is accomplished, you-know-what will hit the fan, and it won't be pretty.



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