Morning Gang
Well it seems the cycles are starting to play out. We have had a 90 degree overshoot of the 1012 mark. 1012 is 3 revolutions of 360 degrees up from the 666 low. The market often plays in 3s and 7s. As my last post talked about China and how its influence may push us around. The dollar is building a sneaky pattern here. If King dollar gets above 79.50 on the dx then the US stock markets may be in for the extended pullback.
Mr. Market has done a good job of holding both sides in the cautious camp. Surprise has always been to the upside. May be in for a big surprise if the dip buyers don't show up this time around.
Still looking for that last fear trade.
Signs all around....Government is upping margin req on leveraged ETFs and many firms are not allowing their sale. "The hand" may well be at work.
Yesterday GS printed a LROD (large range outside day) which engulfed 8 trading days... will we see follow thru. GS has also traced a mini head and shoulders patter with a second right shoulder (bearish). If Gs is also at the begining of tracing out a bigger head and shoulders, the head has formed and a pullback in the area of 135/140 looks in order.
Hit em Hard
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