Let’s not beat about the bush and call what happened during yesterday’s session as what it represents: a possible game changer. I’ve slipped in that weasly adjective as nothing in the world of trading is ever guaranteed.
However that said: Unless some miracle occurs today and the bulls drive the E-Mini back > 2750 the gist pretty much is up for the foreseeable future. Let me how you where it all went horribly wrong:
When it comes to trading the financial markets I draw a general line between easy times and difficult times. And I think everyone here would agree that the past few weeks, and by extension the past few months, most definitely fall into the latter category. Why is that? I could bore you with an exhaustive technical analysis drilling deep into the various characteristics of a transitory market phase, but there’s a much easier way to drive home this point:
I regret to inform you all that I have returned to Valencia which of course means that I am back to tormenting you all with my daily market musings. We actually didn’t venture very far from home this time as the tiny backwater of El Campello is located near Alicante on what is known as the Costa Blanca of Spain. The location itself is pretty nondescript but as you can see the ocean views from the house we had rented were absolutely stunning.
The land of smiles has become the land of sweaty balls… so I’m clicking my heels together three times and escaping back to Australia for some peace and quiet. That being said, I feel a disturbance in the crypto force. Remember last week I said that bitcoin should be going down hard but I don’t trust it? It felt “engineered” which I hardly ever say out loud.