Wait For It
Wait For It
10:11am EDT: That’s a nice start but I encourage everyone to wait for confirmation before jumping into bearish positions with both feet:
927 would be a good start and I personally am hoping to see 922 get taken out. Until that happens we are still only bouncing around inside the house of pain.
11:25am EDT: Dollar is bouncing back a little this morning:
The developing H&S would be not as clean but still perfectly valid if we press on higher from here. A drop at this point would be a bad omen that more downside is looming. Again, this is not an H&S yet – we need to see 81 to complete the touch of the neckline.