For reference, this is building off of the original idea:
Since there was a successful breakout and now a news-based catalyst, Connected tops show a target of 607-608.
Quick note for chartists that might be raging a bit about how my connected tops aren't actually connected tops. What I've actually done is cloned the bottom trend line and mapped it to the top, found it was surprisingly close to a perfect parallel. I like doing this when it is close because it sets a personal target for me that will often times be a little bit shy of what a true parallel target might yield. This gives me a better opportunity to take profits before the wave of other profit takers show up. A true connected top could yield a theoretical range-based target of 615-620 for example. Right or wrong, whatever, this is just a little personal thing I've done for years and it's worked out alright.
not financial advice... right.
Since there was a successful breakout and now a news-based catalyst, Connected tops show a target of 607-608.
Quick note for chartists that might be raging a bit about how my connected tops aren't actually connected tops. What I've actually done is cloned the bottom trend line and mapped it to the top, found it was surprisingly close to a perfect parallel. I like doing this when it is close because it sets a personal target for me that will often times be a little bit shy of what a true parallel target might yield. This gives me a better opportunity to take profits before the wave of other profit takers show up. A true connected top could yield a theoretical range-based target of 615-620 for example. Right or wrong, whatever, this is just a little personal thing I've done for years and it's worked out alright.
not financial advice... right.
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That got ugly fast.
QQQ broke a major trend and SPY is in decline, unless we recover here, I don't see even such a positive news catalyst on a new service arm helping NFLX.
QQQ broke a major trend and SPY is in decline, unless we recover here, I don't see even such a positive news catalyst on a new service arm helping NFLX.