False Upside Breakout Claims Very Bullish Buyers
Overnight trading in the ES S+P 500 Futures this morning,
claimed very bullish buyers in a pivotal false upside breakout,
thru and into historic all time highs, that proved to be the fatal short term endgame.
When buyer's move price into uncharted skies
there is always a risk of an immediate reversal of fortune,
if there is suddenly no one left out there to buy.
As you can clearly see on the 30 Minute Chart
presented here, you can see the spike up on the chart to all time historic highs,
followed by an almost immediate fall off the cliff reversal.
That in technical jargon is called an "exhaustion" failure move.
Technical Analysis 101 reveals that that kind of move is usually followed,
by a bearish price reversal, and that is textbook,
to what what happened today.
THE_UNWIND
7/25/19
NEW YORK
claimed very bullish buyers in a pivotal false upside breakout,
thru and into historic all time highs, that proved to be the fatal short term endgame.
When buyer's move price into uncharted skies
there is always a risk of an immediate reversal of fortune,
if there is suddenly no one left out there to buy.
As you can clearly see on the 30 Minute Chart
presented here, you can see the spike up on the chart to all time historic highs,
followed by an almost immediate fall off the cliff reversal.
That in technical jargon is called an "exhaustion" failure move.
Technical Analysis 101 reveals that that kind of move is usually followed,
by a bearish price reversal, and that is textbook,
to what what happened today.
THE_UNWIND
7/25/19
NEW YORK