Replies to post #94756 on Advanced Micro Devices Inc (AMD)

[JLS]

Nope, not a result of options.

The charts below have weekly intervals. So, that which is going on could be a big deal (meaning lots more down).

Upper chart: the last weekly interval (not counting this week) was a red doji for $SPX and was down for the week but higher week-to-week. The previous nine weeks were all green.

Because that run higher was so strong, don't be surprised if half of it is given back (and that usually happens faster than the up cycle). So expect the market to reach $2,600 in perhaps less than three weeks (the middle blue line).

By the way, the larger pattern will likely be a H&S top. The potential drop for that would be to around 2,050. But there is major support above that level at $2,100 (the upper yellow line).





CMA Statement: I'm rarely right on this big of a deal, but I did go to 100% cash this morning.