Late Session Observation

A quick update based on the ongoing session – we are are at a clear demarkation line and the onus now is on the bears to breach it.

I’m just not sure those cuddly teddies have it in them… after all they have systematically failed to fend for themselves for over two years now. Even now the odds are stacked in their favor and it seems to be slipping away, thus I have to agree with Scott that the tape I’m seeing is largely disappointing. It’s not boring however, not sure why everyone keeps saying that.
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The chart that keeps on giving – we again dropped to the 100-day MA and made a full stop. What now? Very simple – this line has to be breached today or tomorrow at the latest. Otherwise we will once more see the marines storm in to drive this flaccid fiat Dollar supported piece of turd toward the the 1350 mark again.

Of course if the shorts manage to muster up some mojo then 1270 would be a good spot for a quick reversal play. That’s all for now – let’s see what happens.

Cheers,

Mole