The only real noise being made on this quiet Friday session is coming from the overbought camp, who are pointing to NYMO scores and other factors are ground for concern heading into the weekend. Yet what strikes me about our recent ascent is the solid nature of it. I am not convinced stocks are ready to roll over.
Value has been migrating higher in an orderly fashion. In the NASDAQ, for instance, we bottomed and formed value then migrated higher. Then we formed value again, very clean, then migrated higher to our current value–which sits with near/perfect symmetry at 4327. See below:
Intermediate term, this type of action is as healthy as it gets. It has been relentless, and occasionally setting some legit bear traps.
Something that will not sit well for me, despite all this progress, it the current swing low, which was set during globex. These tend to be weak.
Nevertheless, a great migration of value is upon us. From south-to-north, the progress is palatable and setting up some nice sector rips along the way. The low is deep down below, for now.
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Amazing. A month ago the world was ending.
Its always ending, but we get periods of reprieve. I still don’t like the lows, but this method of working higher is healthy.
Great track, horrifying video. On the topic of the market, I won’t pretend to understand what you are talking about. I will say that I think this is just a snapback rally which will go higher and longer than most bears can handle, then drop the fucking hammer and plunge lower with Thor strength.
the lows are weak
ps don’t do drugs or this could be you
Too late. Done a lot of drugs. https://www.youtube.com/watch?v=_7LS_x_px48