Will it seem when I get back in the market, crap happens. So for that I will apologies to anyone that followed me in. Even though there is no way that the world is watching to see when I get in, it sure felt that way this week when I was handed another 3.47% smack in the face. Ok, that whine is over, let’s look at the charts.
This week destroyed a lot of the structure that was building to the plus side. Blowing through that pivot low at the CBL level brings fear that we are heading even lower because support did not hold. Once again price is back below the 50 day ma and that is another dagger. Next week, price needs to reverse back uphill from here or it is likely in trouble.
Small also had a major pull back Wednesday through Thursday. That very short uptrend line was crushed and thrown aside. At the this moment in time, there is not much brightside here. There is a support level here but you have to question if it will hold.
We just continue watch the International sink lower each week.
Bonds did confirm it’s daily sell this week even though by the end of the week prices started to inch back up.
Conclusion: There is not much positive to take out of last weeks movement. It was disappointing and destructive. Maybe it was the last shake out of the common man, (Us), before prices start to go higher. When sentiment finally reaches the point where you can’t stand it anymore, is normally where it will reverse and leave you behind. With all the crap that happened in Paris last Friday, there is no telling what the markets will do Monday. My heart goes out to all the people taken suddenly from this world and their family left behind to morn. It’s really a shame when as group, to prove your ideology to the people of the world, you have to kill innocent people that are not even armed to protect themselves. True evil and cowardice is all you can say no matter your belief.
May the bird of paradise not only shit on these people, may they be exterminated in the same manner they inflict on the innocent.
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