Menu Close

You Know the Old Saying 9/1/21

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.

The more that things remain the same, the more they remain the same.

Powell announced that tapering of QE will start immediately. That’s different.

Meanwhile, the trendline from the August 19 low is still there. Touched 8 times, and headed for a 9th here in the early pre market, approaching noon in Europe. The line is currently at 4532, but there are a couple of additional trendlines a point or two below that. All would need to be broken to suggest a potential end to the uptrend. Then they’d need to break 4520.

Resistance is at 4544-45. If they break that, the next target would be 4565.

tvc_bc46c67dc2f3a150453b341de6def1a5.png

 

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

If you are a new visitor to the Stool, 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.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share