I have barely looked at charts for the past few days, which is a good thing - because almost nothing has changed. The market is drifting through the chop, waiting for the next big narrative to come along.
As you can see, we have a bit of a pennant after the move off of the lows at $38,600. I have alarms on the top and bottom lines of this symmetrical triangle, but honestly don’t see anything compelling at the moment for bears or bulls.
As you can see, we have a bit of a pennant after the move off of the lows at $38,600. I have alarms on the top and bottom lines of this symmetrical triangle, but honestly don’t see anything compelling at the moment for bears or bulls.
scott.melker@texaswestcapital.com