Will the uptrend of the week of September 20 repeat itself?

2 באוק׳ 2021Market is still looking bearish from a fundamental macro perspective. But I think we will see a bit of an uptrend this week to let the markets breathe a little bit after the recent blood bath. Dumb money are ready to short the index now to recuperate their losses, only to find that the market will go up instead. And just as dumb money gives up on shorting after a week of green, the market will fall again. I have been in this situation myself literally thousands of times before, as the poster boy of dumb money.

2 באוק׳ 2021

הערה

After it has hit the upper channel resistance, I think it might go back down the support level of the channel (blue lines).