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Thursday, 04/20/2017 9:11:31 AM

Thursday, April 20, 2017 9:11:31 AM

Post# of 19856
Bigworld, I've noticed that the Nasdaq chart looks considerably more bullish than the DJIA. It stayed above its 50 MA and didn't quite get down to test its March low. The DJIA on the other hand failed to hold its March low and is also well below its 50 MA. The S+P is in between, having tested its March low and held so far, but still a little below its 50 MA.

The only bearish looking chart of the three is the DJIA. The Nasdaq is actually closing in on its high. The RUT isn't looking that bad, having held its March low and come back up to test its 50 MA yesterday before backing off some.

Looking at XLF, it has more or less held its March and Jan lows, although has formed a quasi head + shoulders which is bearish.

So a mixed bag, with the DJIA currently the only doggy looking chart. Will be interesting to see what happens next. Some more sabre rattling from the little Nero of N. Korea, but the market may start discounting him as the 'boy who cried wolf'. However the Deep State may have decided that now is the time to finally deal with the problem (?) in which case we'd probably get a big selloff in the market. Still too early to say though.

The debt ceiling impasse is also lurking for next week. The Congress will apparently only have 2 days to address the issue, so could get interesting. Normally the Ryan and the Tea Partiers would be trying to force a government shutdown, with the Dems and moderate Repubs looking to raise the debt limit, but this thime the Dems don't want to give Trump a victory, so the toxic environment has created a new dynamic.

Ultimately it's all for show since they have no choice but to keep raising the debt ceiling or the US govt would soon have to default like Argentina.













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