"I Just Love to Pull My Tricks on You Bears. Ever See a Bull Dance!"
5 Day, 15 minute - May 14 - We had conflicting trends today and it made it difficult to commit to one direction or the other. Intuitive feelings suggested that an upside move was underway but the Internals combined with other indicators and, in particular, the contrarian trends inhibited pulling the trigger. The end result was an up trending day within a short term pull back trend. Personally I could not see a low risk trade today and did not take a position.
20 Day, 2 Hour - May 14 - Intermediate Term Bullish Trend punctuated by a Short Term Pull Back Trend. This contrasting persuasion in the market indicators made it difficult to commit. The end result is that the price action is low in the channel. Based on Trends alone this would suggest a Bullish Move on Friday. A break below the channel would be very Bearish.
3 Month, Daily - May 14 - Keeping an eye on the longer term trends are important to you economic health.
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