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Wednesday, January 17, 2018 4:05:38 PM
1. STZ investment boosted the entire sector and in reality was a news event worthy of breaking any technical analysis expectations.
2. ETF demand drove the next leg up. This was the 2nd fastest growing ETF on record.
Both game changers for legitimacy of this budding industry (no pun intended)
If, and I emphasize IF, we get another game changer then I would believe forgoing another long consolidation period. Until then I am now 95% sure we find our consolidation between 32 and 34. We could retest 30 or the 21 day but settling in on 32 and 34 makes sense from a technical perspective.
I learned from some great investors that in the absence of game changing news (I.E. a black swan event) just follow the trend and stick to charting.
If such an event does occur, throw the charts out the window until it settles. Up or Down.
EngageFactor
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