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This is a Top – 4/20/21

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

OK. Looks like a classic top pattern on the hourly, right? Here’s what I don’t like about it. The right shoulder is higher than the left. The uptrend, while bending is still intact, and the big neckline is still below at 4140. If they break that with authoritah, then it’s a top.

Click to enlarge

But what kind of top? Here we deal only with intraday and slightly longer matters. So we’ll look for a boucne from either 4148 in the 5-6 AM hour in NY. Or from 4140, a little later. If they hold, no doubt the USA gang will again buy the dip. Well, we know they’ll buy the dip. We just need to predict the dip to what?

Beyond this, for the big picture check out:

Space Needle Construction Under Way

6:20 AM –

Attention New York. Attention New York. There’s a storm headed your way. Board up your windows, and sandbag low lying doorways and windows. This will be your only warning.

Here’s an updated chart. I had to go up in the attic and find a red channel. Fortunately, there was an old one lying around, so I just rehung it.


The 5 day cycle projection is 4133.

This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.comView 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.

Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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