They’re hanging around up here, balanced on the tight rope swaying in the breeze. How are your nerves.
It’s 2 AM in New York. Do you know where your stonk market is?
Have you ever noticed that as soon as you put it in writing–anything– it does the opposite.
Originally posted at the Stool Pigeons Wire Bears won the screen game from yesterday 35-26. That follows a 29-12 bull victory and Tuesday’s 56-14 bear…
And an air pocket has developed.
To be serious for a moment, a big change in the tax on capital gains would shift the supply/demand equation. Obviously, we can’t know yet if that would be enough to change the long term trend, but yesterday’…
Bears won the screen game from yesterday 29-12. This is swing trade buy signals vs. sell signals from yesterday’s action. That doesn’t fully offset Tuesday’s 56-14…
The failure of the right side to fully descend is of concern. The stream will be directed upward.
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Yesterday surprised me. I did not expect a big selloff, obviously. I saw nothing in my work to suggest one. It’s not that that never happens. As the great trading coach Joe Kuharich said, “It’s rare but not unusual.”
Cue audience laughter. 😄
OK. Looks like a classic top pattern on the hourly, right? Here’s what I don’t like about it. The right shoulder is higher than the left. The uptrend, while bending is still intact, and the big neckline is still below at 4140. If they break that with a…
First, let’s start with a little perspective. This is a 2 hour bar chart back to early March. Lately the market has risen for 10 days on weaker momentum. It suggests that this 10 days has been a down phase of sorts, relative to the two previous uplegs….