Two Days of Sideways Uneventful Market Inaction. Does that Tell us Something? Yes! To me, "This tells us that we don't know where we are going. We as a nation and economy are walking through a mine field just trying our best to tip toe along trying not to get blown up. We have Washington on the one side with platitudes and rhetoric and the market reality of economic collapse staring us in the face. The "Market is the Market" and it will tell us the "Truth." If there is optimism the market will go up. If there is pessimism it will go down. The Trend is Down!
6M, Daily - Feb. 18 - This is an important chart. It shows the longer term down trend and the potential that November lows might be breached. If that happens we could go a lot lower. This is not just a "trader's concern."
10D, Hourly - Feb. 18 - "Bear Potato Day 6" - Two days of inaction and no direction. We are in an extended Bear Potato that exceeds the usual longevity of a Potato but these are extraordinary times.
5D, 30m. - Feb. 18 - Totally sideways movement with no real opportunity to trade. The Potato remains Bearish.
2D. 5m. - Feb. 18 - Two Days of Watching Grass Grow or Paint Dry. A Breakout up or down would be expected. The Bear Potato is overextended but the general news is not Bullish.
Two Days of Sideways Uneventful Market Inaction. Does that Tell us Something? Yes! To me, "This tells us that we don't know where we are going. We as a nation and economy are walking through a mine field just trying our best to tip toe along trying not to get blown up. We have Washington on the one side with platitudes and rhetoric and the market reality of economic collapse staring us in the face. The "Market is the Market" and it will tell us the "Truth." If there is optimism the market will go up. If there is pessimism it will go down. The Trend is Down!
6M, Daily - Feb. 18 - This is an important chart. It shows the longer term down trend and the potential that November lows might be breached. If that happens we could go a lot lower. This is not just a "trader's concern."
10D, Hourly - Feb. 18 - "Bear Potato Day 6" - Two days of inaction and no direction. We are in an extended Bear Potato that exceeds the usual longevity of a Potato but these are extraordinary times.
5D, 30m. - Feb. 18 - Totally sideways movement with no real opportunity to trade. The Potato remains Bearish.
2D. 5m. - Feb. 18 - Two Days of Watching Grass Grow or Paint Dry. A Breakout up or down would be expected. The Bear Potato is overextended but the general news is not Bullish.
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