Boring nerds for a boring economy
I am always looking for you daily summary. Know you do have a "real" job that pays the bills, but I do like to check in. Grandma Jo
While we are consolidating above 84 at the moment, it seems to me the general downward slope is placing more and more pressure upon a fairly arbitrary level. It seems pretty obvious that there are a lot of automatic buying being triggered each time we touch 84, but that is not going to last forever. With the wild gyrations we've seen (and the starkly negative SMAs), these look less like an orderly consolidation to me and more like pressure building behind a dam. When it breaks . . .
I agree with Jesse, I'm seeing this pattern as a descending triangle. Chances are, we'll break down at some point.
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