The real early bird special was yesterday and I hope you took full advantage of it as we seem to be trading on the right side of the tape thus far. But if you came here for a freebie I shall not disappoint but humbly ask you to first make it to the bottom of this post as we are at a crucial stage in this counter rally. Alright, I was rather skeptical about the odds of a bounce here myself, but then opinions matter little when it comes to timing one. And you already know our prime directive: When in doubt let the charts do the talking.
Smashing entry opportunity in equities this morning as we’re back to whence we came before last week’s NFP disaster. I’ve got to say, that shake out was executed with quite a bit of finesse and as usual our very own Zero indicator provided us with important clues that bear trap #7641 was in the works:
Living in Spain affords you not only the pleasures of to the Mediterranean lifestyle, its delicious food, and enviable weather, but also offers you cheap and quick access to a vast number of popular holiday resorts. For instance Valencia is just a two hour ferry ride away from the island Ibiza, and if you’re partial to summer nights dancing to Euro trance surrounded by scantily clothed sun kissed women then you are in luck. Or so they say – everyone knows the Mole is completely impervious to such hedonistic pleasures.
As I pointed out just yesterday: Nobody has a crystal ball in this game, and a ‘good call’ usually is the product of ample preparation combined with a generous helping of luck (that or a source on the inside). That said – we really avoided one big nasty bear trap there yesterday.