I'm looking for a pullback soon as the parabolic run should have an end. Vol drying up and top BB on the 60 and daily charts is in the way. The "pinch" of price between the upper BB and the lower trendline has to give and the indicators are saying overbought, thus I'm guessing pullback to the gap fill or 1015 level for the 2 of C. 3 of C up should be interesting. Add to that the market is not really reacting to all the good news this am. Strange - maybe the 3:30 ramp job will pick it up.
Note: the 60m indicators really don't mean shit these days. Look at them on this chart decline the whole time of the A leg up of this run. Amazing.
Yeah, the hourly, which usually is really reliable, just got ran over on the A leg.ReplyDelete
This rally is one for the books now.
Hey, did you read the Clinker Tax piece by Karl? What a laugh. Pay sales tax and income tax on the $4500 - both out of pocket, and many paid full sticker price and got ZERO for the trade-in, by definition. Perhaps better off without the hand-out!
This market is insane. Really tough getting a grip on it. K screwed me up today, but may have saved my ass late.ReplyDelete
Denninger is a hoot. Love his stuff.
Send me an email.