With all the doom and gloom recently haven't noticed many paying attention to the bigger picture.
FOMC decision to bring 75bps rate hike was fully priced in, in fact the market had partially priced in full point hike.
Despite that bear arrogance remained peak levels and have continued shorting the markets (crypto, stocks) on mega volume.
Going back to Wyckoff, one of the 3 golden rules he considers is EFFORT and RESULT.
While market has been short on super volume, the price did't quite reacted same.
When EFFORT != RESULT we look for pause and reversal.
Sell volume has been slowly being absorbed and we have, for a very first time seen a 50/99 DMA Golden Cross
While this is early indication and needs to be confirmed with 50/200 Golden Cross, short side is extremely heavy and vulnerable.
Remember, liquidity is magnet, and free money in form of stop-loss are up north.
Furthermore, we almost fully retraced the COVID pump and we are at a levels from where market lost its organic trajectory due to the aforementioned natural disaster.
FOMC decision to bring 75bps rate hike was fully priced in, in fact the market had partially priced in full point hike.
Despite that bear arrogance remained peak levels and have continued shorting the markets (crypto, stocks) on mega volume.
Going back to Wyckoff, one of the 3 golden rules he considers is EFFORT and RESULT.
While market has been short on super volume, the price did't quite reacted same.
When EFFORT != RESULT we look for pause and reversal.
Sell volume has been slowly being absorbed and we have, for a very first time seen a 50/99 DMA Golden Cross
While this is early indication and needs to be confirmed with 50/200 Golden Cross, short side is extremely heavy and vulnerable.
Remember, liquidity is magnet, and free money in form of stop-loss are up north.
Furthermore, we almost fully retraced the COVID pump and we are at a levels from where market lost its organic trajectory due to the aforementioned natural disaster.