About To Snap!
Updated
Another week passes, still the rally is intact, Friday's action witnessed heavy selling and a complete reversal of Thursday's fake out move.
For many months now, we have had a rally built on rate cuts coming, the fly in the ointment is a stronger economy and inflation woes not subsiding.
Oil prices feed through to the economy, the economy itself is not strong, just manipulated numbers.
The Fed is about to meet up again for another two days of theatre, this red trend line for months is about to snap.
Once the confirmation is obvious, wave threes down of magnitude will hit. Nothing but smoke and mirrors the past six months will be exposed, months of rally can be taken down in a few weeks...this will only be the beginning.
Watch for the break this week.
Appreciate a thumbs up, good trading and God Bless you all!
For many months now, we have had a rally built on rate cuts coming, the fly in the ointment is a stronger economy and inflation woes not subsiding.
Oil prices feed through to the economy, the economy itself is not strong, just manipulated numbers.
The Fed is about to meet up again for another two days of theatre, this red trend line for months is about to snap.
Once the confirmation is obvious, wave threes down of magnitude will hit. Nothing but smoke and mirrors the past six months will be exposed, months of rally can be taken down in a few weeks...this will only be the beginning.
Watch for the break this week.
Appreciate a thumbs up, good trading and God Bless you all!
Note
The great selloff has begun.Market topped out on 1st August, a bunch of wave threes down coming the weeks ahead.
Note
Probable temporary bottom today.Expected bounce into this week and another great short entry later.
Note
Hammer candle today, possible temporary bottom.No denying we are in the throes of wave three down.
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