Well, this is what you get when you push the market up on some idiotic reasons. That doesn't mean even bigger nonsense will not push it back up again. I'm feeling no less cynical as when the Dow hit the zenith of 14,000 last July on some flimsy nonevent hooplas that were just as crappy as now.
Although there seems to be a remote resemblance between A and B, there's a few qualitative difference. Whereas A closed up from the previous day, B closed down (or so it appears at the moment). More importantly, A closed above the lower channel while B closed below the lower channel.
Nice view on that reversal like watching your big game walk out in the open during the hunt!About 12:30 yesterday.Have been also watching SDS also on my polarized etf screen for stochs to finally go under 20
What looked like a recovery effort on the part of the ever-stubborn bulls that we've come to know in the last 2 months seems fading at the moment. For the time being, everything kinda hinges on whether the trendline will remain intact or not. If the bulls hold out long enough, there may be a massive exodus of skittish bears that could send the market higher. Anything goes is the preferred motto, if you ask me.
The pattern of zigging and zagging, all the while taking forever to get its ass back up, should not bode well for the bulls. It tends to leave a bad aftertaste.
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