Indexes very close to falling into the Void
Updated
The recent uptrend is on a knives edge at the moment. If I were a bull I would have my stops tight because the moment that trendline the indexes have been just holding breaks there will be an impulsive move lower in probably a matter of weeks.
I am looking to go short after the CPI / Fed meeting next week because I think it will cause the last push higher on the bear market rally followed by instant sell pressure.
I am looking to go short after the CPI / Fed meeting next week because I think it will cause the last push higher on the bear market rally followed by instant sell pressure.
Comment
The trendline has been broken we are probably due for a "Santa Klaus dead cat bounce" since most people have given up on that idea.I suspect a backtest of the trendline in the coming week or two followed by another wave lower mid January to the yearly lows or slightly under before another dead cat bounce.
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