Surprisingly good info from a major bank/broker. I have a free trade account at Wells but had never glanced at their research untill your link. Thanks.
Yeah 3 peaks and a dome was all the Hirsch brothers talked about LAST year. Hell that house weathered a nuclear attack of scary data and is still standing!
Ever since reading that Market Pscychology book written 90 years ago and his reference to "They", I have a whole new skepticism for ascribing events to the unknown "They". I think that short covering is a mighty powerful force in the market!
The UST holdings data may be of interest to B.C. community, maybe you shoud post it there as well. So it is UK that buys our paper recently and saves us after all ;)
This is the UP/DOWN action I was talking about. I think we are going to see a lot of this. I am starting to see some more distribution underneath from my model.
If you look at the Summations, the Bullish Percents, etc you can assess the divergences. If this rolls over at this point then the August lows are definitely in play.
The past couple of days have reminded me of the forced action that preceded the July top.
Those housing numbers were terrible despite the headline spin of New Home Sales Rise! The prior months downward revisions are coming fast and furious.
7 comments:
Isn't this FUN? This is going to be with us for awhile I think so we need to learn how to trade it.
Cat on Both Sides of Fence
Another completely abnormal looking chart.Is there any wonder people believe the PPT exists?
Cat
I thought I was looking at a Three Peaks And A Domed House pattern but that fell apart too.
Surprisingly good info from a major bank/broker. I have a free trade account at Wells but had never glanced at their research untill your link. Thanks.
Marlowe
Yeah 3 peaks and a dome was all the Hirsch brothers talked about LAST year. Hell that house weathered a nuclear attack of scary data and is still standing!
Ever since reading that Market Pscychology book written 90 years ago and his reference to "They", I have a whole new skepticism for ascribing events to the unknown "They". I think that short covering is a mighty powerful force in the market!
The UST holdings data may be of interest to B.C. community, maybe you shoud post it there as well. So it is UK that buys our paper recently and saves us after all ;)
This is the UP/DOWN action I was talking about. I think we are going to see a lot of this. I am starting to see some more distribution underneath from my model.
If you look at the Summations, the Bullish Percents, etc you can assess the divergences. If this rolls over at this point then the August lows are definitely in play.
The past couple of days have reminded me of the forced action that preceded the July top.
Those housing numbers were terrible despite the headline spin of New Home Sales Rise! The prior months downward revisions are coming fast and furious.
Curious Cat
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