
Cold Weather Bear

SPY 3M. Daily Addendum - This chart has been added since it shows a "New Bear Potato" forming in the Daily Chart (right side of chart). A trend line has been drawn along the candles which demonstrates the current direction of the market. A mostly sideway neutral potato is seen over the last six weeks which has now converted into a Bear Potato. This may be significant and suggests more movement to the downside. The longer term time frame potato needs to be kept in focus as we deal with the market day to day. Yesterday (Thursday) was very volatile and the internals were very weak. The market has been real tricky lately and there a lot of mine fields and booby traps out there.
No comments:
Post a Comment