Trap or Triumph?Is Ajax, the ''human fortress,'' luring Hector into a trap or is Ajax tiring? The dueling drama continues.
The px is coiling. It will breakout, whether up or down remains to be seen.
Reasons for it to break up.
1.Historical bull market
2.Q2 GDP est. +3.8%
3.Bulls have pushed back hard against the bears with massive volume, defending the vpoc.
4.Bears appear to be tiring - ascending triangle (px coil) and 9/26 10:00 exhaustion candle
5.Bulls have forced a close above 4 strong resistances.
6.Picture perfect double bottom on a one-hour chart
7.Almost too many reasons to list.
There is much financial news due out next week. I refer you to www.marketwatch.com and its U.S. economic calendar. Perhaps they are waiting for some direction from that basket of goodies. Most notably, the jobs report is a market mover. It comes out the first Friday of every month. That will be 10/3 at 08:30. There has been much controversy surrounding their numbers of late. Their numbers were found to be way overinflated. E.J. Antoni has been recently appointed. He is a real sharp guy.
How many bureaucrats does it take to change a light bulb? Seven. One to say everything is under control and six more to file reports saying it was not broken after all.
Whatever happens, we know how to manage margin, and our Trifecta Trading Plan of Breakouts, Dips and Pivots gives profits as we provide liquidity to the markets.
