This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
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.
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.
You can follow more of my intraday snark at the Stool Pigeons Wire. Register there and join in!
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.
Technical Trader subscribers, click here to download the report.
Not a subscriber? Try Lee Adler’s Technical Trader risk free for 90 days!
Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.
