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Away? No, but they do slow down in their old age.
And god this is getting old.
They found the trendline from the June 20 low yesterday. Broke it slightly. Also slightly broke the 5 day cycle projection. I said then that I expected a rapid rebound.
This market is nothing, if not predictable. You want to fight the Fed, fight the tape? Be my guest. I’m sick of this too, but I respect it. They are still in control.
One day, in the not too distant future, they won’t be. The market will tell us when that day has come. It’s not today. I don’t think. But WTF do I know.
Here’s a 2 hour bar chart for perspective on today’s likely action.
Zooming in to one hour bars, we see trend resistance around 4361 at 7 AM in NY. If they get through that, the 2-3 day cycle projection would point to 4380.
Find the extended outlook at Liquidity Trader.
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