So I don't have the news on... did something happen in Iran? XLE is at a 10 year high. What do they know that they're not telling us?
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
This is the beauty of reading the tea leaves. Nobody knows exactly what the "news" is, but they sure know something is brewing underneath. It's probably got to do with NFP tomorrow.
In all likelihood, flight to safety. As you might already know, there are bulls, then there are bears, and finally there are the pussies.
In all likelihood, flight to safety. As you might already know, there are bulls, then there are bears, and finally there are the pussies.
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Don't forget the pigs
Did he really say "Or else?"
Ahhh... that may gather a few votes from the severely pissed off former staunch Biden supporters... but that kind of verbiage won't work on Israel.
They'll have the Mossad buying weapons from Iran... and the Iranians won't even know they're selling them to Israel.
Some similarity to consider between today's selloff and the one on Feb 13th. Both had over 2% daily range and sold off (eg. red body) about the same. However, the important difference is the wick. On Feb 13th, selloff reversed towards the end of the session, thereby leaving a long tail. Today, there's a long wick at the top. Also the previous selloff stalled above the trendline. Today, on the contrary, not only did it crossed below the trendline, it closed below it FOR THE FIRST TIME. That to me indicates a definitive reversal of sentiment.
This is not to say that we've entered the bear territory. Anything can still happen. But we're no longer under the full protection of the bull market like we've seen in the last 6 months (eg. just shut up and BTFD).
Oh, and lastly, I think we will revisit that 5% pullback line, which coincides with the 2022 ATH.
This is not to say that we've entered the bear territory. Anything can still happen. But we're no longer under the full protection of the bull market like we've seen in the last 6 months (eg. just shut up and BTFD).
Oh, and lastly, I think we will revisit that 5% pullback line, which coincides with the 2022 ATH.
Hmmm. I don't like it. Probably best to play it safe and close.
5212
