Equities On Cruise Control
Equities On Cruise Control
Unfortunately my physical condition hasn’t improved much so please forgive me if this will be a really quick update – I’m obviously not trading today. At the danger of pointing out the obvious I would however like to warn any of you to step in front of this slow motion melt up.
I think the hourly SPX chart shows the point I’m trying to make – markets rarely move in such an orderly fashion and this has been going on for five sessions straight now. The whole situation reeks of bot driven activity and when they throw things into reverse is anyone’s guess. Actually I strongly caution you to not even think about this as there is no context and most likely your imagination would be tempted to fill in the void.
On the hourly Zero indicator we are seeing very muted participation – especially when compared with the early phase of this particular leg higher.
A little bit more content below for my intrepid subs:
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Thank you all for the kind words in the comment section as well as the emails – I hope to be in much better shape tomorrow.
Cheers,
