Will the bulls breach the great wall of resistance?
This week's market movement has been baffling. The bears were on the verge of striking the bulls down from the great wall of resistance, when they suddenly returned, with great stealth and silence in the wee hours of the night, to retake a central place on the wall.
Have they succeeded in using guile and deception to defeat the bears once and for all? I think it is possible. If the wall of resistance is completely broken above, then this fantastic wave iii of 3 rally that bullish dreamers have been talking about for years could become reality.
However, I continue to favour the bears. When I observe this chart, the gaps all the way up tell me that bulls have been using deception and manipulative (under the table) techniques to climb the great wall (since way back in the Fall). Once the deception is exposed, the bears, who stand together in strength, should perhaps stand a chance at victory.
If it is these underdogs who win, the defeat for the bulls will likely be beyond shocking, as their ranks are ripped out from beneath their feet, thrown back into the gaps from which they climbed, and the (VIX) Phoenix rises to even greater heights to breathe its fire on these scattered few who choose to remain.
Good luck trading this wild beast of a market, friends.
Have they succeeded in using guile and deception to defeat the bears once and for all? I think it is possible. If the wall of resistance is completely broken above, then this fantastic wave iii of 3 rally that bullish dreamers have been talking about for years could become reality.
However, I continue to favour the bears. When I observe this chart, the gaps all the way up tell me that bulls have been using deception and manipulative (under the table) techniques to climb the great wall (since way back in the Fall). Once the deception is exposed, the bears, who stand together in strength, should perhaps stand a chance at victory.
If it is these underdogs who win, the defeat for the bulls will likely be beyond shocking, as their ranks are ripped out from beneath their feet, thrown back into the gaps from which they climbed, and the (VIX) Phoenix rises to even greater heights to breathe its fire on these scattered few who choose to remain.
Good luck trading this wild beast of a market, friends.