I hope everyone has had a good week. There are a few things I can discuss this weekend.
On Wednesday, we discussed the S&P 500’s breach of a trend line, and from there it went a little further on Thursday, then ran back up to check back in on that trend line today in a bear flag, and then sold off again the rest of the day:
Read more “The Weekend Review of the Markets: Some Good Developments for the Bears”
Very little has changed since yesterday, so tonight’s post will be brief.
The theme of the last week has been the FOMC whipsaw I believe we are in, and we still have not yet met the minimum target for the 3rd and final swing:
Good afternoon, traders.
First, let’s take a look at the FOMC whipsaw target that I discussed in yesterday’s article. I didn’t know if it was going to play out, and part of me thought that my very mentioning that we could go higher would doom the entire world equity markets. But, it did play out, and we not only reached, but then exceeded the target:
Good afternoon, traders. I will present a few things I can see here.
I will begin with QQQ this time, as there’s a bit more clarity, as it’s moved more than the S&P has.
There is a nice head and shoulders pattern:
Good afternoon traders.
The SPX remains perched on the upper rail of this large wedge:
