The market has changed, there’s no doubt about it. There is a world of difference between what we saw early this year:
Liquidity moves markets!Follow the money. Find the profits!
On Friday alone, we basically opened at the highs of the day and lost 40 points on the ES throughout the course of normal trading. The hardly screams “stability”, particularly since the traitors at the Fed have gone full dovetard and have thrown everything they can at this farce.
Key support looms at 2963.50, tinted below. It’s not exactly a textbook topping pattern, but, meh, what can ya do.
We are getting right into the thick of earnings season, which is exciting. We all saw what a nice bomb can do with the likes of NFLX, which I remain cheerfully short. It would only take one catastrophe – – AAPL? AMZN? Who knows – – to pour ice water on passions.
I am Tim Knight, and I thank you for your support.
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