It's always the same play; the stock market closes on Friday, and hours later the lame-duck Trump starts making threats against Iran. No surprise.
Trump's desperation is obvious, as his approval rating has hit an all-time low (31%).
As the negative news becomes increasingly predictable, SHORTs have surged, betting on a break below support around $80K, while the chart setup looks much more like a SHORT squeeze than the opposite.
$80K is support until it isn't—don't bet against it.
When one side gets too aggressive, it soon gets squeezed, and the whole move reverses.
It's the weekend, and the charts should keep moving within a range until tomorrow, but we should probably see a bigger move tomorrow.
The Shorts will get squeezed.
Trump's desperation is obvious, as his approval rating has hit an all-time low (31%).
As the negative news becomes increasingly predictable, SHORTs have surged, betting on a break below support around $80K, while the chart setup looks much more like a SHORT squeeze than the opposite.
$80K is support until it isn't—don't bet against it.
When one side gets too aggressive, it soon gets squeezed, and the whole move reverses.
It's the weekend, and the charts should keep moving within a range until tomorrow, but we should probably see a bigger move tomorrow.
The Shorts will get squeezed.
