Henny Penny or more commonly called Chicken Little in the U.S. is a folk tale about a chicken that believes the sky is falling when an acorn lands on its head. That’s what I see when I turn on television everyday. Just one Henny Penny after another proclaiming the end of the bull market. The only problem is Henny Penny hasn’t been paying attention to the Russell 2000 which this week broke out to new all time highs. There are a pair of P2 and d targets (1658.15 and 1637.49 respectively) directly above which we can use to gauge the strength of this market. Whether we get a tiny overshoot or a miss of each target will provide us with a wealth of information as to the state of this bull market. At the end of the folk tale Henny Penny and all the other animals that follow Henny Penny are invited into a lair by a fox and all of them are eaten.
Has Henny Penny seen the small caps lately?
- May 20, 2018, 12:28 pm
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May 18, 2018, 12:28 pm
This is a interesting post.
Psychiatrist Fredric Wertham has commented, “Through TV and moving pictures a child may see more violence in thirty minutes than the average adult experiences in a lifetime.
The US military and State Department often turn to media to broadcast into hostile territory or nation.
Nielsen finds that African Americans watch an average of 218 hours of television a month. Whites watch 155.3 hours, Hispanics an average of 123.2 hours and Asian Americans an average of 92.3 hours.
Thanks and have a great weekend coming up.
A no brainer! Gold, oil, dollar, 10 year note all in rally mode. RUT peaking, not starting a bull run. The lows in SPY has not been reached. retest of 253 area but should fail and drop to 230’s.