This is a syndicated repost courtesy of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Reposted with permission.
Got youses attention, did I?
Does seem like we are IN THE BEGINNING of the unfolding of the catastrophic scenario that I have been forecasting to begin once the 10 year vaulted past 1%.
But for today, the 5 day cycle projection is only 3912, hardly a catastrophe. Even if that breaks there’s trend support at 3908 and every 5-10 points or so down into the 3860s. If we’re going down today, it should be bouncy. However, below 3867, the bottom starts to drop out.
If support holds, look for resistance around 3930-34. 3934 would be the neckline of a reverse head and shoulders pattern. If they managed to clear that, that would start another mini short squeeze, probably good enough to get the ES back to 3950 for starters.
To post your observations on 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.
Bulletin! Treasury Paying Down $55 BILLION RIGHT NOW to AVERT CATASTROPHE!
Bear With Me, Here’s Why I Gotta Stay Long
This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.com. View original post.
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.
Last week’s selloff did less damage than it may have felt like. The drop stopped in the area of 3 crossing uptrend lines, ranging in length from short term to long term. Here’s what would tell us whether the uptrend is still in force, or signal that something evil this way comes.
I have added 8 new stocks to the swing trade chart pick list, including 2 shorts.
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.
