This chart should be very concerning for bulls. Each time the index flirts with new highs, the RSI is lower – meaning the momentum has slowed down. Another move upwards is not unreasonable, but I think we will see a lot of selling beginning next week, or whenever we get anywhere near 195 again.
If I take this trade, my short target is the low to mid 170s, with a stop loss roughly 6 dollars above my entry.
Hi, I’m Nathan. I majored in Finance and minored in Piano Performance at Boston University (graduated in 2020).
Outside of trading/investing, I enjoy programming, teaching and playing piano, teaching and playing Go, fishing, and watching anime. I also started my own Boba company while at BU.
I'm currently teaching Go full time, which has been the best job I could ever hope for. I'm also currently attending the App Academy bootcamp which started in January 2023.
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