The calamitous triangle break that was pending yesterday morning, happened. We got the usual result. Badda bing, badda boom.
We got the expected rally, but God, it’s pitiful so far. This thing is on the verge of an explosive triangle pattern break.
Yesterday I led off with the thought that the fucutures had a bead on 2700. The intraday low on the futures was 2695. I’ll try not to break my arm patting myself on the back. But gee, this happens so infrequently, a guy should be allowed to gloat once in a while.
The rally that I half hearted expected seems to be under way. It better stick for a while, or you can bet your bippy that the gates of hell will open and we will all be consumed in the fires of eternal damnation.
And you know that I never exaggerate.
Gold again challenged trend resistance and pulled back. This is a multiple choice test. Here are the answers. Only one of them is correct. If…
The S&P seems to have a bead on 2700, despite not trading all night.
The S&P futures are trading limit down at 2812 as I write this at 2:50 AM Eastern Time in the US.
I suspect that the PPT will be in action over the next few hours. Whether they’ll be able to get it above support at 2850 or not is the question. And if they do, can they keep it there? If they fail, then we’re in line for an epic crash.
The cycle lineup suggests a low now, at least after this morning’s crash burns out. Here’s what to look out for.
Investors and leveraged speculators took the coronavirus panic straight to the bond market last week. Dealers, bless their little hearts, were long up the wazoo. Talk about smellin like a rose.
But somebody was short. Big somebodies. They’re dead. We don’t know where the bodies are buried yet, but the Fed will need to exhume them and fill the graves.
Futures are in crash mode on Brown Pants Syndrome Day 2.
We’re looking at a possible Brown Pants Syndrome day.