Will the MA's continue to hold up? Peter (ShadowTrader) would say, if they keep on knocking, eventually someone is going to open the door. It doesn't look good here. Not to mention the bearish engulfing of the entire move up to All-Time Highs. That is definitely not what you want to see here as a bull. We are beginning to gather confirmation, for the naysayers, of the short squeeze that was believed here to have been the reason behind the parabolic move up. Short squeezes weaken market internals. The market wanted to probe lower two weeks ago with the gap down from the Futures sell-off that Sunday. A two week volatility squeeze had been building prior to that action: the pressure mounting is enormous. So, here we are tonight with the Ergodic Oscillator screaming into that zero line: as to whether or not the breaks will hold, tomorrow's open should give quite a hint.
No comments:
Post a Comment