The small caps triggered and basically hit the measured move of that little head and shoulders top we looked at for this week.
On the zoomed-out look, note the busted rising channel dating back to August.
We have seen a common trap during this bull market time and time again–The false breakdown which sprints to new highs. Will the small caps follow the pattern?
I doubt we get a clear answer today. But it sets up another high stakes battle next week.
This afternoon, some speculative froth is popping up again in the likes of MBLY.
My TBT position is flipping green, as bonds gave up gains from this morning’s jobs report.
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$MBLY reminds me of $SPLK earlier this year
Good eye, Bernie.
Buying $WYNN?
I covered. Not going long.
Thanks
$FB long