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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Turtles_win who wrote (174518)	5/21/2022 4:18:24 PM
From: yard_man	Read Replies (2) \| Respond to of 218640

a nice steady uptrend very soon there are some that are predicting this ... I don't think being bullish here is necessarily boldly contrarian. I've seen a couple of public technicians and some on SI predicting Friday was it ... and we are going up hard now. I see some good arguments for and some good against. Very near term --- there was just a failure to make new lows and a pretty good local vix spike on the day that was all given back -- that's near term bullish. Sentiment is also very poor overall -- that's near term bullish. However, VIX is still lacking a "capitulation" spike. Clearly, large number of participants are hoping "they" (others) have given up on higher prices ... so we get no crescendo in the selling. Prior to Friday we have a steady pattern -- when there is a pre-open gap -- it takes a few hours for the selling to start. Friday's late V recovery would be a bullish pattern in an established bull phase -- but where we are -- these can often mark significant declines. Probably won't happen -- but if we open below the 1/2 mark on that V on Monday -- it could get ugly quickly. I hope that the selling can end with Friday's whimper. Sometimes it does end with a whimper. Would love to buy the semis and blockchain stuff into the mother of all rallies.