Tuesday’s relentlessly vertical rally felt like a blowoff, or at least the beginning of one. Middling Hidden Pivot resistances in most indexes that I track got schmeissed, and the very shallow corrections that followed suggest bears are likely to get whacked again as the week wears on. The 212.77 target we’ve been using in AAPL will offer a crucial test of buying power, since it is such a clear and compelling ‘hidden’ resistance. If it gives way easily we should infer that Wall Street’s animal spirits are of the rabid-badger variety and unlikely to cease by week’s end.
Animal Spirits, or Rabid Badger?
- April 24, 2019, 9:58 am
Pin point distribution is quite intense 04172019
Further ‘inharmonious A/D line’ action towards the major indexes 04182019 has taken the markets towards again ‘major’ price fall levels.
Yesterdays closing levels are indeed intense slightly higher than the 4/17 and 4/18th day, somewhat nearing over extreme reversal reading now pegging the market base lasting anywhere from 5-7 tradings days and moving towards ’10 week major stock market index levels’.
The DXY/EC traps are in place and very important towards ‘shifting’ values.
Have a great day Rick.
Philadelphia Flyers remove Kate Smith statue, New York Yankees halt her ‘God Bless America’.