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S&P Not Exactly in a Textbook Top Pattern

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

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! 

……..and this……….

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.

Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. I may receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.

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