The intraday triangle on the S&P we looked at this morning has now morphed into a larger one, with price near the morning lows.
It pretty much goes without saying at this point that oversold markets which fail to bounce are most in danger of a crash.
Again, I do not use that word lightly. But facts are stubborn things. And this market has been unable to hold a bounce for a while now.
Ebola plays continue to trade in their own world, with the President now canceling campaign events for Cabinet meetings.
Keep an eye on the descending triangle resolution, below.
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there will be blood,
and a time to buy the blood,… ; )
thanx again Chess
Cheers
UVXY working like a champ. Another 20% today. This is the best investment I have ever made at this point.
Still looking for resources on how to id the top of a parabolic move. Still time to get on the UVXY train though. Just close your eyes and buy it. Then hold for the big one.
Good work
If it does it, you got a new member to 12631
You’d like it regardless.
That I would, haha
Well, the triangle didn’t hold. SPY now at 183.45ish. I guess we need to put on our crash gear, huh, chess
Chess. Divergence in JNK/HYG et all ?
bond dumber than stocks ?
or am i reading too many comic books ?
Funny divergence, IWC up for the week…
Good eye. Being forced to liquidate JNJ, Utes et all …but no sellers in IWM or micro.. smells like capituliation. i dunno i could be hallucinating.