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hopefully it's a rising wedge but even it is, it'd take awhile for the wedge to work no to mention sometimes if not mostly it doesn't work.
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Opposite view to fast money show/ Experienced trader telling it like he sees it. No fowl language for a change, probably because he had no comments on Fed Reserve. http://www.econmatters.com/2017/02/tech ... um=twitter
Anybody wonder why I spend time with the small caps just look at the difference in price action today. Since the change by the exchange the ES and the TF have the same dollar value per point ($50) Again this chart is Mountain time add 2 hours for New York.
For the record the trader in Huston who's audio tape I posted above is saying that with the low volume overbought conditions all it is going to take is one big player making the decision to get out and we will see panick with back to back 100 point down days as we have all seen before. He was mocking the fast money crowd.
Does it mean anything that Elon Musk (The "Music Man" of the 21st century) seems to have lost his ability to be a spell binder? Supposedly Tesla is down 2 billion in market cap since earnings last night.
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Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
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Once again following the 2 standard deviation from VWAP line, but today it is below.. Daily pivot zone should pause things.
Bottom of the average daily range is just below (snare drum rimshot) 56, yes once again the magic 6. You can't make this up.
Smalls (TF) below the 20 day average range movement of 14.4 with today's range at 14.8 so far. So unless this is, as Red Foxx used to say "the big one" should be close to done with the down for today.