I guess the earliest earning report will come from Nike! And in 6 days time, we will know whether the consumer is REALLY confidence.
Still, there is a need to prepare for at least two different outcome - 1. trade go in my way, 2. trade go against me
Based on yesterday's close and rejection by 8&20ema, i anticipate another big sell tonight. Then it will short of consolidate and have a reaction after the earnings.
I reckon price will stabilize around 94-95 (no guarantee), and if
1. earning > analyst estimation - price would gap UP to my gap up zone (IMHO) and go upwards. (The Christmas rally that bulls want)
2. earning < analyst estimation - price would gap DOWN to my gap down zone (IMHO) and fill the gap at 80.77 in time to come. (The Christmas rally that bears want)
Still, there is a need to prepare for at least two different outcome - 1. trade go in my way, 2. trade go against me
Based on yesterday's close and rejection by 8&20ema, i anticipate another big sell tonight. Then it will short of consolidate and have a reaction after the earnings.
I reckon price will stabilize around 94-95 (no guarantee), and if
1. earning > analyst estimation - price would gap UP to my gap up zone (IMHO) and go upwards. (The Christmas rally that bulls want)
2. earning < analyst estimation - price would gap DOWN to my gap down zone (IMHO) and fill the gap at 80.77 in time to come. (The Christmas rally that bears want)