Chuck,thanks for staying up so late to get a video posted.
So here we are again: sideways consolidation with an upward bias; thin (i.e., easily manipulated) market; stiff resistance overhead; bears’ stops just above resistance to fuel a spike; a government/financial elite that wants asset prices higher and will spend as much of other people’s money as it takes to get what they want. Sound familiar? What’s different this time is the lack of meaningful price resistance through into the 1100s if bulls can carry the baton past 1050ish and keep it there. Atop the fence is the only safe place to be right now.
As for your point on volume: bad stuff doesn’t matter any more – didn’t you get the memo??
Chuck,thanks for staying up so late to get a video posted.
So here we are again: sideways consolidation with an upward bias; thin (i.e., easily manipulated) market; stiff resistance overhead; bears’ stops just above resistance to fuel a spike; a government/financial elite that wants asset prices higher and will spend as much of other people’s money as it takes to get what they want. Sound familiar? What’s different this time is the lack of meaningful price resistance through into the 1100s if bulls can carry the baton past 1050ish and keep it there. Atop the fence is the only safe place to be right now.
As for your point on volume: bad stuff doesn’t matter any more – didn’t you get the memo??
Chuck,
Interesting comments you had on the VIX.
Between today Thursday and yesterday could that be a faint resemblance to a head and shoulders?