One of the closely kept secrets on the site is that Le Fly is, in fact, a technical analyst. At night, burning the midnight oils, I often stay awake all night drawing symmetrical lines on top of stock charts, determining the future based off geometrical patterns.
FOR EXAMPLE:
One must respect the lines if one is going to make it in this business.
Forget about FCF or “earnings”. All of that is BAKED IN to this chart, the sum total of all of the feeeeeeelings out there, which should accurately predict the future.
That being said, it seems the overall trend is inexorably lower. It also seems that today’s rally is nothing more, or less than, a weigh station toward’s perdition. The very fabric of this market is made of sugar — soon to be melted away like a cloud of cottoned candy inside the sweaty palms of a over-active child.
Gaze into the past and there is a chart pattern to be conjured up for all charts. Take gold since 1970’s; every trend change has followed a known chart pattern. For the times the chart pattern exhibited and the trend didn’t change, those are failed breakouts, and they don’t count. So the record stands strong, you can sell this to just about anyone as has been happening for minimum a century.