…but the price action is still constructive.
Bearish arguments tend to attract those who consider themselves intellectually refined, as the cautious stance usually sounds well thought out. However, at the end of the day putting on airs of intelligence is entirely irrelevant, and usually harmful, to your portfolio balance.
Looking at the daily charts of the S&P 500 and Nasdaq indices, the “throwback'” thesis is clearly in play. In addition, despite the intraday moves, the bulls have not given up nearly as much as bears would have you believe.
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Exactly. Well said sir.
word!
Thanks Chesster! 😉
for me, easier to look at leading names as I don’t trade es or nq etc. So are leaders putting in handles or are they topping out? Charts don’t lie, but they don’t tell the entire truth either. Good stuff, i always enjoy it & good trading.
I always discuss underlying price action. I view the action in many leaders as highly constructive.
didn’t say you didn’t – was commenting on this post alone. Anyway, leaders price action looks good, but impossible to tell if a strong trend is coming our way as we stare down earnings next week. Not picking a fight, just commenting on a comment.