Back In The Grind
Back In The Grind
12:24pm EDT: The way it’s going we’ll still be in this damn whipsaw zone by Chistmas.
Question here is whether or not this is merely a retest of that channel or if we’re going to zigzag back up.
BTW, Zero subs saw a monster divergence over an hour ago which was indicative of a temporary bottom forming – it was almost textbook and I might use as an example it in the tutorial.
The ole’ buck has pushed back a little which is encouraging. Not to get everyone’s hopes up but there is the glimmer of a possibility that we might paint a small inverted head & shoulders pattern. But let’s remember the prime directive when trading patterns – they don’t exist unless they are complete. So, be cautious here as this thing could turn down any minute, thus negating this possibility.
12:48pm EDT: Doesn’t look like that 10-year treasury auction is going so well…
I’m actually surprised nobody is talking about this as it is huge news – we are heading towards the edge of this cliff – whether or not those equity bulltarts want to see it or not.
