Hey Guys,
Collapsing the after-hours gaps gives another perspective to the natural pattern of the markets. My effort at this is in blue (or dotted) and shows us rising within a quite prominent bearish channel.
Also.. remember that island reversal a week or so ago? I feel like a pattern that bold will have more significant long term bearish influence on the market than what you may be led to believe by artificially high hi's and low's from these after hours gaps.
Whenever I see big moves after-hours, without strong a strong global news event, I think its clear that the markets are being manipulated by big money players or the fed... volume is lowest after-hours, so easiest to sway the market.
Stochastic RSI at various time frames leads me to believe we will follow the pink forecast... wouldn't it be poetic if it played out that smoothly as a text book megaphone pattern?!?!
I am also excited to see what the fear index does with the next legs downward, considering the state of the world of course ;). As the fear index climbs, the sell off will intensify... exponentially? That would be a panic sell off and it would be spectacular.
Cheers,
Dave
Collapsing the after-hours gaps gives another perspective to the natural pattern of the markets. My effort at this is in blue (or dotted) and shows us rising within a quite prominent bearish channel.
Also.. remember that island reversal a week or so ago? I feel like a pattern that bold will have more significant long term bearish influence on the market than what you may be led to believe by artificially high hi's and low's from these after hours gaps.
Whenever I see big moves after-hours, without strong a strong global news event, I think its clear that the markets are being manipulated by big money players or the fed... volume is lowest after-hours, so easiest to sway the market.
Stochastic RSI at various time frames leads me to believe we will follow the pink forecast... wouldn't it be poetic if it played out that smoothly as a text book megaphone pattern?!?!
I am also excited to see what the fear index does with the next legs downward, considering the state of the world of course ;). As the fear index climbs, the sell off will intensify... exponentially? That would be a panic sell off and it would be spectacular.
Cheers,
Dave