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This is why it paid to keep your cool during last week’s sell-off, before it and since then.
I had a clear, multi-year important level in mind I was looking at for the transportation stocks, just above 5,000, which I have discussed literally every day in blog posts and my video market recaps. If they lost it in a meaningful way, I would have been forced to reevaluate the entire bullish thesis. Instead of panicking at the first sign of blood, though, and letting bearish gurus on social media affect our analysis, we stuck with the prevailing-trend-higher-until-proven-otherwise thesis inside 12631. What we saw was a perfect “throwback” or retest of that level and a wildly bullish reaction to it, well before any news about crude oil came out today.
As you can see today, the trannies are rocketing higher. Indeed, the weekly chart truly is a thing of beauty, as the trannies are well on their way to printing a bullish marubozu candle off a major level. I am currently playing a relatively unknown trannie right now, and it is hitting fresh 52-week highs as we speak.
Focused, intense, yet simultaneously relaxed, but never emotional, is my modus operandi.
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you are just as i pictured
lol!
I hope it’s you 🙂
Chess, what do you think of KSU if it breaks out here? It’s just under it’s 52 week high.
Like the trannies.
Thanks.
Sachser likes the article. And the view.
2nd time asking for a date, don’t want to ask a 3rd.