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Posted in Lee's Free Thinking

Old Bull Markets Never Die, They Just Fade …

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

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

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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.

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