Bearish
Simplifying this to the nth degree. Not trying to get it twisted. Ignore the noise, trade the trend. Bearflag consolidation since $70 dropoff doesn’t look like it when you stare at that first bounce and everything behind the actual flag pole I put. But when you wipe that and focus on where it actually bottomed and what happened thereafter.... it all becomes clear as day. We also made a full confirmation on a bullish stick sandwich. I saw many people (not here, but one was here) posting the pretty clear inverse h&s that was forming, but that wasn’t confirmed yet either. That pattern failed now and this pattern succeeded and is confirmed. I don’t see this as a bounce in coming weeks just because strength at $50. It can easily go down -$0.50 on Friday (given we all know now Dells sales will be weaker than last years Black Friday/Holiday boon) and thus close under $50 going into December. Don’t count on a real true bottom until $45-47 imo, and if it extends past that... $41.
  • 1