Call me a cranky old man. OK. So that’s been true forever. But I’m not convinced yet that this is a bearish setup. At least in the very short run.
Liquidity moves markets!Follow the money. Find the profits!
That said, if they can’t poke through 3365 in the early going in NY, I’m converting back to my natural bearism. The proof would be in the putting. Gotta break 3295.
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Meanwhile, get cycle projections from 2 weeks to 2 years, along with key support and resistance trends and levels, and long and short stock trading ideas at Lee Adler’s Technical Trader. Here’s the latest report.
The June selloff was 265 points high to low. So far, the current selloff has hit 278. Bigger? Nope, not in percentage terms. This one is -7.7%. That one was -8.2%. So, we can still say that this time isn’t different.
Yet. But there’s smoke. Plenty of it.
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