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Overnight stuck between yesterday's high at 2,600 and the close at 2596.25.
Not looking like much trading and I am sure Cobra is right, so I will work on brining my turkey. For years I have cooked on my outdoor grill with smoke, so following tradition it is always raining and cold Nobody wants to help but they all love the results.
I put a composite volume profile (reg hours only) for the month on the right of this Renko chart. The point being to "see" where support may lurk if we get any weakness later this week.
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Both ES and RTY testing VWAP from the bottom, so far can't get above it. If I was bearish on today I would call it the re-test of the earlier drop or a kiss goodbye. But I think the right mindset for today is bored to tears, i.e. a crying male pig and we all know what happens to pigs
fehro wrote:S&P just gone 1 yr without a 3 week pullback… since 1995.
Fehro, by this do you mean that based on data going back to 1995, this is the first time it's happened..?
last time this happened 1995.. just a news feed headline.. fwiw.
Thx. This entire past year has been a striking example of Cobra's longtime admonition of "We follow, we follow". The upslope longer-term MAs on major indexes have been steadily indicating this underlying favorable environment for stocks.
I dont know if you even follow Cryptocurrencies or market.
But as a Investing Guru with solid experience, what is your take on Bitcoin and other cryptos out there? Do you think it is in Bubble as no assets or commodities ever gone this parabolic in history ever...Bitcoin has just gone from penny stocks to $ 8000...that's monstrous move, which made few thousand new millionaires.
What is boggling my mind is that people believe that Bitcoin is a digital Gold, it is end of the day is a programming codes. There are many analysts are claiming that mining a 1 bitcoin cost around $ 1000 electricity! which I dont believe as Bitcoin just last year was below $ 1000 and stayed under $ 100 for more than five years after they first introduce.
Also, if it really costing $ 1000 or more to mine one bitcoin, where are people who cares about Environment? Global Warming etc. It is basically destructive technology and should not sustained in the long run.
I surely fill pain as I am not part of this mega rally. Its not that I wasn't aware of Bitcoin when they introduced back then but never believed in the concept of digital currency and decentralization etc and I still dont...If we talk about Blockchain technology then we are up to some discussion but Bitcoin or other Altconin replacing financial monetary system and replace Gold is very hard to digest.
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