BullBear52x wrote:Bears need 40 handles under the belt before a good sleep at night. the power that be knows that.
22 and 23 point drops overnight so far this week says no counter trend trading so far. As the boys from Texas (real Clear Investment Advice) say 'fully invested bear'.
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Maybe a rebound here firs then we'll see. The pullback finally signals today is a range day.
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Should be a rebound here firs then we'll see whether it's again a breakdown then sharp reversal up.
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Week ago bulls ran over the gap filled, the failure to hold support will test the recent low in a hurry. most likely a buy tomorrow unless we have a surprised gap down.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent
in June on a seasonally adjusted basis after rising 0.6 percent in May, the U.S.
Bureau of Labor Statistics reported today. This was the largest 1-month change
since June 2008 when the index rose 1.0 percent. Over the last 12 months, the
all items index increased 5.4 percent before seasonal adjustment; this was the
largest 12-month increase since a 5.4-percent increase for the period ending
August 2008.
The index for used cars and trucks continued to rise sharply, increasing 10.5% in June," the BLS said. "This increase accounted for more than one-third of the seasonally adjusted all items increase. The food index increased 0.8% in June, a larger increase than the 0.4-percent increase reported for May. The energy index increased 1.5% in June, with the gasoline index rising 2.5% over the month.
Charts posted are not recommendations. They are just a sharing of information.
Break the EMA20 decisively then it's double bottom or H&S bottom, key time.
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