One More Structure I Can See Here

One more reason we need to see a much stronger rally is to evade these parallel rails:


I’m dumbfounded that the market has been so unrelentingly insensitive to the extremely bearish sentiment here. I almost literally can’t believe that we can’t even produce any kind of squeeze.

But, if there are still sellers out there, this is what we could see. Amazing after what felt like capitulation just a couple of days ago. If this breaks down, obviously the perma-bears have been right and the market just doesn’t want to tolerate any rate hikes after so many years of easy policy.

In past rate hike cycles—all of them as far as I can tell—the market has topped after the cycle gets going, never before. So this would be a first.

Note: When articles are first posted, most of them are made available only to my Patreon supporters (I do try to publish some public posts on occasion). Over time (usually after a period of a few weeks or so), I make all of the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page. In a nutshell, patrons of any denomination (you get to pick the amount) will be able to read my weekend analyses, Tier 1 members ($20/mo.) get access to all of the articles I write, and Tier 2 members ($35/mo.) get access to those, plus counts on other instruments and my Discord chatroom.

One thought on “One More Structure I Can See Here”

Leave a Reply

Your email address will not be published. Required fields are marked *