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Posted in Lee's Free Thinking

Welcome, Fellow Long Term Bulls 2/16/21

This is a syndicated repost courtesy of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Reposted with permission.

OK. I keed. I keed.

I don’t know, but the hourly looks like one of those giant cranes that is about ready to fall over and destroy a bunch of stuff on the way down.

Look at the hourly oscillators. There’s a helluva negative divergence on two of them. But we’ve had helluva negative divergences before and they just led to teensy weensy pullbacks.

So I dunno.

We had a 5 day cycle projection of 3957. It’s done. But a 5 day cycle is nothing in the big scheme of things. They’re at 3947 at the moment and there are rising support trendlines every 5-10 points below. So I dunno. It’s hard to be bearish.

Get the big picture here.

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