Autobots – Roll Out!
Autobots – Roll Out!
Since our early morning entry (check previous post) equities have been running on cruise control. Sometimes it’s worthwhile looking under the hood to see who’s driving the tape – take a peek:
A very ordered ascend we’re having here – smooth and steady – looks a lot like it’s autobot driven.
It’s almost become a tradition to see the tape transform itself instantly into bullish mode after retail bears have been lured into taking short positions. Autobots – roll out!
What irks me a wee bit is the SPX/VIX ratio – so it seems that market makers may think that this is a temporary short squeeze. Can’t be sure here but don’t get married to your trades.
There was a GARB-L this morning and somehow I forgot to mention that yesterday – my bad. But I did mention the hammer on the bottom and that a long would be advisable if we held that 25-day SMA – so I’m not completely useless. The next hurdle is the weekly NLBL at 1694.5 – a push above it would be bullish.
A few setups for my intrepid subs – please step into the lair:
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Cheers,
