This is a syndicated repost courtesy of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Reposted with permission.
The market appears to be early in a 5 day cycle up phase that began yesterday afternoon. So far, it is weak but it is working on breaking out of a downtrend channel, as of 4:30 AM New Yak time.
If successful, it faces possible uptrend resistance at 3805, and if successful at getting through that, at 3815. Then, if that’s cleared, the next step would be to test the high around 3825.
None of that is a slam dunk. Primarily because of this.
It’s an issue I have covered and warned about for months, with the latest update here
Tax Collections Did Better in December But The Bond Market Still Broke
I’ve talked about the likely inevitability that this breakout would happen, why it would happen, and what the implications are for investing and trading.
KNOW WHAT’S HAPPENING NOW, before the Street does, read Lee Adler’s Liquidity Trader risk free for 90 days!
Act on real-time reality!
Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. 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. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.
We may be skating on very thin ice here, but the weight of the evidence still supports a weak bull case for the near to intermediate term. So I’m adding buy picks on the chart pick list and adjusting trailing stops to account for the risk.
Technical Trader subscribers click here to download the report.
Not a subscriber? Follow Lee’s weekly swing trade chart picks with Lee Adler’s Technical Trader, risk free for 90 days!
These reports are not investment advice. They are for informational purposes, for a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.
