I'm basically getting this out without supporting charts, but I think this is what is happening/going to happen.
You remember our tweet about triangles yesterday, well this is a bullish ascending triangle except it's in the wrong spot to be a real one and thus serves as a great head fake which I think it will be, you'll see when I post market 3C charts.
Not only does a move below the support line break the bullish triangle telling technical traders to stop out and go short, it also breaks the 50-bar/5 min chart that so many intraday traders use for entering and exiting positions.
I think we will see a break below, we have a lot of time and this is the fastest way to quietly accumulate shares without anyone asking any questions.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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