I have an early appointment today so please forgive the brevity of this post. In essence your mission for the day is to parse your charting universe and then meditate on the fact that nobody in their right mind (which doesn’t include us of course) would have predicted a stronger Dollar and raging equities after a Trump victory. Which once again comes as a stark reminder that any aspirations in regards to predicting the future are utterly foolish and should remain relegated to the mental purgatory of the hapless retail victim.
Unfortunately my extended weekend did little to alleviate what seems to be turning into some kind of bronchitis caused by a long bout of allergies. I really despise going to doctors but I may just have to bite the bullet and throw myself into the fangs of the Spanish healthcare system. For all you guys who enjoy bitching about healthcare in the United States you’d be happy to hear that the costs here for private care are in fact a small fraction of what you may be used to. That’s the good news.
No worries, I am going to spare you the MC Hammer video today as I think you guys have suffered enough lately. But it is time to swing the hammer as the iron looks pretty damn hot to me. Of course given the market limbo we are still facing with nine more days to go until the election it is quite possible that this setup will once more find itself on the ash heap of trading history. But we just don’t know, do we? You may just take a look at the current configuration a few weeks from now and after a facepalm lament why the heck you didn’t go short here. Or the perhaps opposite – this was nothing but another sideways correction – I knew it! Yes, in hindsight it [...]
Apparently grilled snapper has been a popular choice as of late, as participation has been dying down and equities are now officially running on autopilot. Curiously participation as shown yesterday on the Zero indicator was mainly bearish with prices pushing sideways and then climbing higher overnight. What most likely follows next over the coming days will be nothing but stop runs and more noise aimed at hassling any remaining participants.