Today hit the resistance target zone 13.00-13.40
and got sold down as you'd expect. Now the battle begins over the next few days to retest the 12.70-13.00 resistance shoulder.
I had my sell target set in the docket to trigger at 13.20 ,waiting, but last night, decided to remove it and give the bullish sentiment a better chance to move higher over the coming days. We'll see what happens.
Higher targets at 14 would be a breakthrough the 13 resistance of the past half year. so maybe it could stretch to 15 and 16. But for me, the gamble is whether we see a Market crash happen first, in the coming few weeks. or if that forecast is another false alarm ,like we've been having for the whole past year. Ive been watching closely the Intel warnings and market signals for the "impending market crash" since October 2021, and it still hasnt happened yet. We've had a downwave year, to retest low support zones, but thats not the crash. We have also had the bounce in the market back into resistance (S+P around 4200-4300 area) and the latest downwave happened from there to the current low zone in recent weeks, but this too is not 'the crash'.
So I'm still watching and waiting. Would it happen after the elections ,first week of November? Its a 2 week window, that we have to watch .
Where would a nice rally continue for AVXL, the major resistance target zone is back at 16 area. after overcoming 13. But if we get a market crash, where are the AVXL targets at the bottom zone, I think far below 7. Looking at 5 4,3 area
In this current rally wave ,it was nice to buy at 7.20,nice at 9,and nice even at 10 the other week. but IF the market would crash, even 7 should get wiped out, and bargains would start looking better around 4 .
Will the current rally have enough time to climb into December 1st, or will it get pre-empted and shattered by a crash in November is what I'm watching now.
Good trading and investing to all.
