There is no way you can predict days like today and when they go down, you feel sick. But when they go up, you feel like a hero. War once again is driving the markets and even on the ride home, fuel prices magically jumped 8 to 10 cents gallon.
C fund is still safe @ $1630 and if we fall below $1623 tomorrow, a sell will be fired. The S fund is currently safe @ $874 but if we fall below $846, it is a sell. The I fund is a total mess now considering it busted the 50 day, the new short term uptrend, and is now lower than the last pivot low. All 3 indexes are at or below the last pivot low and it pretty much destroys the structure of a an uptrend.
As long as the United States is going to play Cop and meddle in every country’s business, days like today will always happen. Let’s hope that smarter cooler heads prevail and maybe the markets will snap back just as hard the other direction.
Do you really need to see the devastating charts? I will post them tomorrow if needed. For now, I will hold my hand.
No comments:
Post a Comment