Should be just a “dead cat” bounce up to declining MAs
But squeeze potential EVERYWHERE (except Q?) as bears race to cover and lock in their hard-won profits
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
rebound to fib 38.2%, might be more. the rebound could be 2 legged.
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Super Mario articulated that the rules have changed. That was very clear. We will get more confirmation and guidance at the G-20 next week. Should be lots and lots of ink spilled by clever people over the next couple of weeks with new ideas on how to play things, but today makes it clear, this is a new game. Not saying bear, just saying this is a new game. It is called a rising rate environment. This isn't Andy Jackson defending New Orleans either, the market won't wait to see the rise, it is moving because it believes it is coming.
We have had how many talks from the Fed over the last 30 or 45 days or so prepping us for the big news. Everybody has told us that they expect markets to drop, that markets are overpriced, running on fumes and that the drop will not turn into a crisis. Now we have the main message, we are all needing to do this and they do not want George Soros to take advantage and make a second fortune. Seems like a reasonable way out of a really ugly situation.
Remember the taper tantrum? They are presenting even more devastating news and guess what, so far just a little whining from the markets.
Daniel wrote:IWM dancing just above and below its 20day MA here (ca140.50)
IWM holding above it now, but cannot grasp the distinction of being the only major index to cross its 15min 20ema to the upside. SPY has failed, and QQQ never even came close.
LOL...BEARS are done...short lived happiness...back to business..like I said, this BULL is the most mighty even experienced in history..2500 next on S & P
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maybe a little bit bigger pullback this time as i see expanding triangle.
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