Friday, May 21, 2021 9:47:25 AM
"...nothing is off the table yet, but the INDU chart at least provides food for thought in these historically-uncharted market waters."
http://www.pretzelcharts.com/
"Two charts today. Let's start with SPX, which, on May 19, held the next key support zone (which then triggered the current bounce):"
"The upcoming chart spawned the title of today's piece. We've previously discussed a bit regarding the unprecedented amount of money the Fed is flooding into the system, which makes this market a (or "an," if you're British) historic anomaly -- an unsustainable deluge of liquidity; a Keynesian dream; an Austrian nightmare.
However you want to think of it, the current environment is anything other than "normal."
So: In a normal market, I would take the chart below as a warning to bulls. In this "market," who knows."
"In conclusion, nothing is off the table yet, but the INDU chart at least provides food for thought in these historically-uncharted market waters. Trade safe."
http://www.pretzelcharts.com/
"Two charts today. Let's start with SPX, which, on May 19, held the next key support zone (which then triggered the current bounce):"
"The upcoming chart spawned the title of today's piece. We've previously discussed a bit regarding the unprecedented amount of money the Fed is flooding into the system, which makes this market a (or "an," if you're British) historic anomaly -- an unsustainable deluge of liquidity; a Keynesian dream; an Austrian nightmare.
However you want to think of it, the current environment is anything other than "normal."
So: In a normal market, I would take the chart below as a warning to bulls. In this "market," who knows."
"In conclusion, nothing is off the table yet, but the INDU chart at least provides food for thought in these historically-uncharted market waters. Trade safe."
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