Fat Lady Sings.. on S+P 500 False Breakout To All Time High
Market movements are often times extremely difficult
to rationally understand, or predict.
Yesterday's strong rally,right after the open,
and continuing wire to wire to the close,
on the back of a potential breakdown of US/China trade talks
seemed to be all about the bulls doing what they always do.. buying the dip
However, now, a mere 24 hours later,
it now appears the bulls have been done in, and even worse "trapped.".
by their own premature buying yesterday.
Word that the trade talks were indeed really going bad last night,
has caused the market to gap down strongly on the open this morning
and take out yesterday's lows, all in one fall swoop. Ouch.
However you wish to look at it,
this 48 hour market cycle does more than anything
to simply illuminate the substantial risk inherent, that resides in the market everyday.
Expect more of the same, in the days ahead
as the excesses are removed, like falling domino's...
not hidden, but quite visible for all to see.
A failed breakout to all time high's in the S+P to 2954.13 last week
is now directly responsible for this unexpected and sharp decline this week.
The fat lady, after waiting much too long
finally. has her chance to sing.
THE_UNWIND
5/7/19
NEW YORK
to rationally understand, or predict.
Yesterday's strong rally,right after the open,
and continuing wire to wire to the close,
on the back of a potential breakdown of US/China trade talks
seemed to be all about the bulls doing what they always do.. buying the dip
However, now, a mere 24 hours later,
it now appears the bulls have been done in, and even worse "trapped.".
by their own premature buying yesterday.
Word that the trade talks were indeed really going bad last night,
has caused the market to gap down strongly on the open this morning
and take out yesterday's lows, all in one fall swoop. Ouch.
However you wish to look at it,
this 48 hour market cycle does more than anything
to simply illuminate the substantial risk inherent, that resides in the market everyday.
Expect more of the same, in the days ahead
as the excesses are removed, like falling domino's...
not hidden, but quite visible for all to see.
A failed breakout to all time high's in the S+P to 2954.13 last week
is now directly responsible for this unexpected and sharp decline this week.
The fat lady, after waiting much too long
finally. has her chance to sing.
THE_UNWIND
5/7/19
NEW YORK