May the 4th(July) or Force(Down) be with you…
June 22, 2017
The “Lonely Bearish Pattern” played well. Market hit ATH then pull back to 2428 area. Current trading at ES 2434ish.
Today, CPCE-PPO indicator gave me another possible “Top/Range” signal. Of course, you just can’t depend on one indicator to determine market direction. However, it is worth to notice:
Meanwhile, $NYA50R continue showing divergence with SPX:
Overall, here is my market impression: Range with down tendency. Yes, we may have another re-test ATH because of July 4 (Independence Day), but overall market is stall right now and will be easily pull back 100 points IMHO.
Am I holding the short position? Hell no! I am patiently waiting the Long opportunity for this big bold never die bull market.
To the bulls: May the 4th (July) be with you.
To the bears: May the force(Down)be with you.
Good luck to all and thank you for understanding my Chinese English🙂 |