Friday's massive sell off, erased all of January's gains,
in the S+P 500 and in the process,has potentially topped the market
at the ultimate point of "crowd belief "
My last post highlighted the "little margin for error" in the market
when the downside "trigger"was initiated.
It appears that this was a "climatic"initiation downside move "
thus leaving open the strong possibility of additional"follow thru in February,
seasonally one of the most bearish months of the year.
The "Circular Rollover" Pattern, shown here on the 60 minute chart,
could easily test the bullish conviction of big money.
Note the sharp break in uptrend in the market leading semiconductor stocks last week.
Traders should be careful into buying a "crowd fooling rally,
because the market is oversold and bottoming,
as it could turn out to be just the "first act " ..in this disbelieving Shakespearean financial play instead.
THE_UNWIND
2/1/20
NEW YORK
in the S+P 500 and in the process,has potentially topped the market
at the ultimate point of "crowd belief "
My last post highlighted the "little margin for error" in the market
when the downside "trigger"was initiated.
It appears that this was a "climatic"initiation downside move "
thus leaving open the strong possibility of additional"follow thru in February,
seasonally one of the most bearish months of the year.
The "Circular Rollover" Pattern, shown here on the 60 minute chart,
could easily test the bullish conviction of big money.
Note the sharp break in uptrend in the market leading semiconductor stocks last week.
Traders should be careful into buying a "crowd fooling rally,
because the market is oversold and bottoming,
as it could turn out to be just the "first act " ..in this disbelieving Shakespearean financial play instead.
THE_UNWIND
2/1/20
NEW YORK