Session Wrap Up
Session Wrap Up
Despite that little early morning spike today was a good example of an unfolding down trending day:
I think the video says it all – the bulls never got out of the gate and got completely cock blocked by Mr. VWAP.
Now, since Volar mentioned the ISEE I decided to update my own chart. The subs get a peek:
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Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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The updated ISEE chart illustrates the point I have been making to Volar: Yes, that spike down is extremely retail bearish (i.e. bullish for us rats). But at the same time we had an opposite spike outside the upper BB line pretty recently and sentiment swings like that in such a short time frame are rare and usually puts me in the ‘skeptic camp’ (conveniently rhymes with to septic tank – figure it out).
So, maybe Scott is up to something with the Retest Variation Buy setup – but medium to long term this may not mean much.
Cheers,
Mole
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