The wire to wire short covering rally in the S+P
served its purpose today, however brutally painful
it may have been for some bears who showed up for battle today.
Shown here on the 60 minute chart,
today's rally has again carved out the makings of a textbook
signature right shouler, to a Head And Shoulder's Reversal Pattern.
Major resistance remains above at 2800, althought the bulls did manage to get back above 2767.
And yes, the bulls must be licking their chops tonight, thinking that the bear killing today seemed rather complete.
Yet let me close with this observation.
Real bears witnessed what was happening today, and simply decided to kabitz amongst themselves.
They were busy picking up scraps position head down, while the battle was being fought off in the distance.
Today's rally was meant to completely destroy the shorts who showed up today, and capitulated all day,
Real bears would never let today's rally confront them. Period.
Real bears will simply make their pressence known again very soon soon,
while the bulls are eating today's leftovers, and will stroll right back into the bank.
Reason being. The bulls in their haste to put all of that food down tonight, unfortunately for them, forgot to lock the vault.
THE_UNWIND
3/11/19
Mountains/New York
.
served its purpose today, however brutally painful
it may have been for some bears who showed up for battle today.
Shown here on the 60 minute chart,
today's rally has again carved out the makings of a textbook
signature right shouler, to a Head And Shoulder's Reversal Pattern.
Major resistance remains above at 2800, althought the bulls did manage to get back above 2767.
And yes, the bulls must be licking their chops tonight, thinking that the bear killing today seemed rather complete.
Yet let me close with this observation.
Real bears witnessed what was happening today, and simply decided to kabitz amongst themselves.
They were busy picking up scraps position head down, while the battle was being fought off in the distance.
Today's rally was meant to completely destroy the shorts who showed up today, and capitulated all day,
Real bears would never let today's rally confront them. Period.
Real bears will simply make their pressence known again very soon soon,
while the bulls are eating today's leftovers, and will stroll right back into the bank.
Reason being. The bulls in their haste to put all of that food down tonight, unfortunately for them, forgot to lock the vault.
THE_UNWIND
3/11/19
Mountains/New York
.