Head Fake

You hear me say this so much you probably are sick of it, but today was the perfect head fake.

 Remember the predictability of technical traders and how Wall Street uses Technical Analysis against them? Well this big bear flag is seen by Technical traders as a big, fat, juicy short set up, especially when t broke down below support today-but it wasn't what they thought, it was Wall Street's head fake. We talked about this last night before it even happened when Asia and Europe as well as the ES where falling apart, remember?

 Here's 3C and Wall Street sending prices below the bear flag and short sellers taking the bait, Wall Street took the other side of the short seller's trade and accumulated long as 3C shows you below the trendline.

End result, like I always say, a head fake is to get shares and make the market move faster in the direction Wall Street s playing it, that's why you see the big move up as short sellers from today were forced in to a short squeeze and the price moving straight up on volume, is those same short sellers covering at a loss.