We all know what happens to rising wedges that build with low volume. They collapse. Just look at this daily chart for the March ES. I highlighted the volume for the last seven sessions. This classic pattern that is fairly reliable.
I think you are right. Ben has sent several signals out this past couple of weeks that indicate to me that the free money is going to dry up AND it is becoming vital that the US sell it's debt to pay for the massive intervening that has taken place. To sell that debt, participants will need to see better returns from the Treasury than the stock market. Sounds to me like a little bit of selling pressure to help move the process along is in order...
hi david.. faz is looking to break out.. closed my longs and loaded up on faz at close.. faz seems a little ahead of spxu but both 60min rsi looks strong so am expecting a red day tomorrow.. will see.. surprised the 'save' at the end of the day didn't kick in today..
7 comments:
Just to clarify, this post was pre-market this morning.
i would think we are close after this blow off.
Hey Kerry,
I think you are right. Ben has sent several signals out this past couple of weeks that indicate to me that the free money is going to dry up AND it is becoming vital that the US sell it's debt to pay for the massive intervening that has taken place. To sell that debt, participants will need to see better returns from the Treasury than the stock market. Sounds to me like a little bit of selling pressure to help move the process along is in order...
hi david.. faz is looking to break out.. closed my longs and loaded up on faz at close.. faz seems a little ahead of spxu but both 60min rsi looks strong so am expecting a red day tomorrow.. will see.. surprised the 'save' at the end of the day didn't kick in today..
Hi David , it was nice to see a sell into the close today , its been a long time and a spike out of the channel even better ,
Via EWT , we
1) saw the top today at the HOD ,
2) Started Wave 4 of C , with a wave 5 still to come .
( could be a triangle wave 4 ) .
A break under 1120 would likly spell the end , as wave 4 should not over lap wave 1 .
My Best , lets what we get next
take care
payline, the end of what?
Hi David , Happy New Year hope you have a good one .
It should get interesting now .
Cheers
Post a Comment