Monday’s show was barely in-the-can and being uploaded to the servers, when the “markets” went from opening up some half percent higher, to then suddenly being down almost a full one. Now, as of this writing (~1:15pm EST) said “markets” have, once again, settled in right where they have been for now five full trading days. Or, said differently – gone nowhere.
As I’ve been pointing out and chronicling over these days it appears my “thinking like a machine” thesis is playing out, because as you can see from the drawn lines on the annotated chart below, we are, once again, smack dab dead center where I placed them days prior. That bottom line seems to now indicate an important support level respected by the bots.
Again, as I’ve detailed prior: It’s all about losing that channel, and by what intensity, is all that matters for everything going forward. Emphasis on everything. To wit:
As always, we shall see. However, that “seeing” I believe is soon, very soon indeed.
© 2021 Mark St.Cyr
Note: This is not trading or investing advice of any sort. This commentary is for “big picture” discussion purposes only. Please read, or re-read the “About This Site” page for any questions or clarifications.