As I explained here, we’re in a liquidity shortage, but one that will be lessened over the rest of this month.
As liquidity ebbs and flows, we’ll see wild volatility changes over the next 3-6 months.
This morning, it’s to the upside, but unless they clear 3783, the very short term cycles will still be in a downtrend.
For the big picture:
There were lots of sell signals last week, but this isn’t the big one. Yet. We just need to be prepared for it.
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