Good morning STB!
Blood Worm Moon eclipse tonight.
Chaos continues. Get used to it. Move along.
Good v evil
On to the lie -
Minis off 25. More surprising is DOW off 150. I see no bull case. None. They’re managing fear very well to this point. Will panic set in? At what level? Greed can switch to preservation. That will be an interesting moment if it happens. Without a catalyst to crash it, the slow bleed should continue. SPX 5000-4800 looks like a spot that will be crucial.
Y’all know I’m a lover of the backtest. Its batting average isn’t great, but when it does happen it makes for more competent and measurable market action. It gives movement a chance to breathe and test levels. I’d prefer to see the November lows be set as new resistance. If not, so be it. MA’s and indicators matter, but price needs parameters.We need structure. Makes my job easier. There aren’t really any larger identifiable patterns at this point. When she bounces she’ll set a point for the lower and upper diagonal of a falling wedge. We can then begin to measure things better.
Have a good day.
GL and GB!
