Shorts End Day Still Pinned to the Ropes


The Dow Industrials climbed significantly above a very promising rally target we’d been using since November to stay on the right side of this raging bull.  This suggests there is still quite a bit of unspent buying power percolating beneath the surface. I identified a couple more important-looking Hidden Pivot targets up to around 25,000 during Wednesday’s weekly tutorial session, but we’ll take then one at a time, since one can never know for sure when the bullish tide will reverse with a vengeance, as it must. From the look of things, it’s not likely to happen this week. Retracements were shallow throughout the session, implying that shorts remain badly pinned to the ropes.

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capa March 2, 2017, 4:02 pm

Ides of March at work….see recent remarks on ES by R(oss)ay C(lark)harles of technical analysis…

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