I hate to burst everyone’s bearish bubble but unless we drop straight down in the next few minutes it looks like the bears are going to fumble this one – again. I just noticed a rather disturbing divergence on the hourly Zero. Wish I had seen it earlier but I’ve got a bunch of Spanish workers crawling all over the place as I’m getting high speed fiber installed in the lair today. Anyway, here it is:
Lookie here – that divergence on the hourly panel is looking pretty ominous – very bad medicine. In addition flat participation suggests the bots are about to take over and the Mole reversal signals are failing. Let’s not be presumptuous but my point stands: a handle or two more and a push above 2010 and it’s all short squeeze into the close.
And that would be extremely bad news as the implications may be a sideways correction like shown on the chart above. We’ll know more by the close, so let’s see what happens here in the final two hours.
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