There was a reason why the mainstream business/financial media, once upon a time, followed and printed my thoughts: Unlike most ( e.g., the clown shows on CNBC™ and others) when I pointed out a particular observation via technical analysis, I was usually right. Today, I offer up as credence to that statement, one I made just two days ago. To wit:
“Now since I’ve pretty much solidified my prowess and more regarding technical analysis over the years. I’ll just leave you with this – this is one to painstakingly watch moving forward. For it can resolve itself into a direction at any time now and out-of-the-blue.”“Diamond Hands” May 16, 2023
Here’s the chart I was referring to, again, to wit:
And here’s what happened only two days later, which is today. To wit:
The only thing to watch for now is if this new “horse race” continues or, stumbles, breaks a leg, and is sent packing to the “glue factory.” It’s all still a very real possibility should the debt ceiling talks break down or other such entanglement. But for the moment…
The race is on, in earnest, with
Apple Seabiscuit way out in front.
But then again, what do I know.
© 2023 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.