NASDAQ is pushing down into the single prints from last Friday. In theory, not much information has changed since Friday morning, but what has?
Don Trump took the #2 slot in the IOWA caucus without using nearly as many resources as the other candidates. Trump wants to kill Wall Street.
Alphabet became the biggest company in the world. Therefore the internet surpassed the gadgetry that takes you to the internet. Some call it a paradigm shift. I call google The Leader.
That’s about it. Everything else is the same, so buyers ought to act the same down here, yes? Behaving with the same tenacity and vigor they sported Friday morning?
Perhaps, but these single prints, once reclaimed, tend to be thoroughly examined once we spend time inside them.
Therefore, if buyers do not show up ASAP, we are likely to close on the lows, bros.
Over the weekend Rose Colored Sunglasses triggered, a working short bias generated by my index model inside Exodus. The week is young, but the model nudged toward taking home the victory this week. It took the ‘IOWA caucus’ victory already in the Russell (a risk-off divergence) but I will not consider it a proper victory until (and only if) the NASDAQ tags 4147.
Here is the slip zone I am going on about:
Stay sharp. February is starting to act a lot like January.
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