Short covering panics?
There are signs of bottoming in the big picture. While still down nearing 7 AM in New York, this morning’s rebound isn’t surprising in that light. But I’m holding most of the shorts on the chart pick list, with tightened stops for now. I’ll cover 3 at this morning’s open. I’ll post an update on that before the open.
The hourly chart is disjointed. I don’t know what will happen next, but I know that 4300 now looks like a key level. If it holds, then they can attack 4400-4410. And if they get through there, this thing can take off.
Conversely, if they fall through 4300, I look at 4265 and 4225 as key areas of support.
Meanwhile, I doom scroll my Twitter news feed and pray that the Ukrainians can continue to hold off the Russians.
Meanwhile, the big picture:
Swing Trade Chart Picks Go Haywire
Liquidity With Eyes Glued to Ukraine
Gold Breakout Points To More, Miners Swing Picks Look Good
This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.
