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Old Bull Markets Never Die, They Just Fade …

This is a syndicated repost published with the permission of Stool Pigeons Wire at Capitalstool.com. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

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.

tvc_3595f2bc4087ae8f008e07691520abe9.png

 

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.

tvc_113d185bc6662b47f3a2f3d6370745f6.png

Find the extended outlook at Liquidity Trader.

Where The End Stage Rally is Headed

This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.comView original post. If you are a new visitor, please register and join in! To post your observations and charts, and 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.

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