Take a look at the recent trend of $SPCX
This kind of movement is truly rare, to the point that I don’t even know how to comment on it...
If you say it’s strong, that 150 prior resistance level still hasn’t been effectively broken through; the false breakout in the middle of the week probably trapped a bunch of funds chasing the breakout, and there’s still overhead pressure from people looking to exit at breakeven.
But saying it’s weak isn’t right either. The U.S. stock market-linked contract over the weekend still opened, and without any clear positive news, SPCX really moved in a stair-step pattern and just like that, climbed above 150...
The U.S. stock market will also be closed next Monday, so we probably won’t see much volatility; we’ll have to wait until Tuesday when the U.S. market officially opens to get a clear read on the next direction.
But put another way, sideways trading is exactly the right place to place a bet; the operation is simple: stop out if you’re wrong, hold if you’re right! (said by Teacher Tony, borrowing it 😇)
This kind of movement is truly rare, to the point that I don’t even know how to comment on it...
If you say it’s strong, that 150 prior resistance level still hasn’t been effectively broken through; the false breakout in the middle of the week probably trapped a bunch of funds chasing the breakout, and there’s still overhead pressure from people looking to exit at breakeven.
But saying it’s weak isn’t right either. The U.S. stock market-linked contract over the weekend still opened, and without any clear positive news, SPCX really moved in a stair-step pattern and just like that, climbed above 150...
The U.S. stock market will also be closed next Monday, so we probably won’t see much volatility; we’ll have to wait until Tuesday when the U.S. market officially opens to get a clear read on the next direction.
But put another way, sideways trading is exactly the right place to place a bet; the operation is simple: stop out if you’re wrong, hold if you’re right! (said by Teacher Tony, borrowing it 😇)
