Let’s stroll through a few charts based on four-hour bars. That gives us a somewhat close-up view while still providing some medium-time perspective.
Many months ago, I would often feature Budweiser (symbol BUD – – ha, ha.) as a short, since it had a gargantuan head and shoulders pattern. Now there’s a new lighter version.
It’s actually kind of a shame that the soulless scumbags that have created this 11 year bull(shit) market are going to have a virus to blame for its termination.
Today’s big Bear Winner is none other than that epitome of high cultural, that apotheosis of cerebral excellence, Worldwide Wrestling Entertainment.
I can report it dispassionately, since I have absolutely no position, but Amazon is blowing the doors off…………
Chart
I’ve got 50 short positions, and every single one of them is profitable.
rice gap resistance held beautifully in both NQ and ES:
Gaps filled on muted Fed response.
Perspective on the bounce.