There was good volume on Friday’s move higher. While I’m still concerned about the $VIX spike, it is looking like we might see new highs. As long as the market wants to grind higher, we want to watch the high tight flags.
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Yet another reason to keep NFLX near the top of one’s watchlist. However, I think markets are going lower. Put in a nice correction now, then vroom to all time highs by the summer.
Its a bull market, so I’m not one to second guess it, but I agree that I expect lower lows before higher highs. Still positioned 100% long though.
If you don’t mind sharing, what rules do you use to identify the pattern and to enter the trade? Thanks.
Google Bulkowski High Tight Flag. You’ll find those answers there. Cheers!