Dysfunctional Market ~ Apple perfect double top; Goldman Sachs and Russels perfect vbear set-up 11.29.17
Today market exhibited a strange movement, SPX, DIA, IYT, IWM and Financial sectors were on the loose of bull rage, while the most valuable sectors #COMPQ #Tech stocks were in flash crash mode. Median of 5% drop intraday, Nvidi, Netflix, and BABA, see the most red day.
To bring light into today's price action, its not the first time that technology stocks has tank more than 3% intraday, this is the 2nd occurrence for the year. The first one was on first week of June, however, during the first sell off, SPX coordinates with the selling move as week from 245-242, 1% drop as result of tech stocks carnage.
I guess it is safe to say that our stockmarket right now is in truly in uncharted territory in various ways. Oh well, as cliche as it sounds, trade what the market gives you.
Apple perfect double top
GS and IWM perfect exhibit of "bear trap" enacted bearish in the last 2 weeks, which was resolved in 52 weeks high for IWM in the last 2 trading session.
WMT potential shake and bake before breakout. Daily trends bias to bullish.
LABU perfect pivot/ IBB