Last month's action looking suspiciously like the classic "abc-12" trend pullback setup. The final "abc" could still just be the start of a "12345", too early to tell. If it hooks up here, or slightly lower on the .618 fib it's probably gonna fly (in the face of all the pessimistic newz out rightnow) *edit- absolutely perfect 5-3 combo flashing on the nasdaq *not a prediction*
the good cop bad cop routine is alive and well. its been going on for quite a long time now…the peripheral good cop talked up the market last thursday to give a cushion for the past 2 days of mean reversion
I have a feeling he will not be a good cop during his house testimony tomorrow, so down we go again I reckon'.
It looks like 4K is the magnet it doesn't want to stray from too much going back 10 months and the range is narrowing lately. When it breaks out it could be huge. I vote down.
The short lived mega rallies plus liquidity injections buy him cover for the hawkish rhetoric…Most people know equity markets should be significantly lower due to rates, etc…
Probably yes…the “V” shaped rallies that have been with us post GFC are mega sentiment shifters…the multiple OpExs per week are also a feature rather than a bug… It wasnt that long ago that we only had to deal with one OpEx per month and the monkey business associated with it…now its a daily occurrence which adds to the binary nature and the bipolar sentiment swings…nothing revelatory here