A little chart potpourri tonight. 5 charts that stood out to me.

13653 is the high of the day on the New Moon last Friday. So far that top is holding but with a quiet consolidation during an options expiration week, the bulls may have a crack at that resistance tomorrow. Futures are mildly up as I type this and this week’s pullback looks textbook with the big money holding their positions. If we break through that level with force we could be in for a nice rally tomorrow or next week.

If I was bearish I’d point to this massive bearish ascending wedge on Nasdaq. But that was only if I was bearish. Pay no attention to the man behind the curtain…whose name is Benjamin.

Horrid action on the transports today…but like I said on twitterthis is so last century. Does anybody really pay attention to this index anymore?

Pick a bearish pattern, and then stick a fork in bonds.

  • bearish head and shoulders with a break and a retest to the neckline – money favors lows
  • down-trending channel which is a little less ominous, but $125 should be a top if that’s it.

As above, so below.

 


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