It is actually a handle on a cup and handle if you look closely. Handles need a breakout before trading them without some other signal superseding.
Who was it on Elite who use to say “Da Boyz are coming” if the Market tanked “Da Boys are coming to buy!” With that said, Dah Boyz are coming to sell! That’s what I thought at 3:20 pm. My closed end bonds, CLOs, FSK, ARCC(Ares Income), KIO, BXSL are getting spanked. That’s why I was bearish and indifferent. ARCC
Looks like we'll end up around here (duh' ) It's hard for the market to keep falling with so many stocks "up-tick ruled"
V-man is nowhere to be seen. By now, I would think he's going all haywire with his usual line: "See, WTF did I tell ya??? The V force is unstoppable." And I agree. This looks like a bear trap to me, which means the bears will get their ass kicked tomorrow. Stay tuned.
My analysis of the hourly is that we are in an uptrend and we got too far outside the upper BB yesterday and we needed to back n fill and fester for a bit. It was nice to see the rally off the bottom today. Some may feel they see a bear flag.