ajtj99's Market Pulse

[ItsAllCyclical]

What's the validity of that trendline in your opinion? I'm a fan of TA and I like your charts in general, but it seems too arbitrary to me. Contains 2 points separated by how many years w/no real correlation. 835 or something around there and a backtest would probably make sense regardless as that's the typical MO when support goes. Again trying to learn, not nitpick as I do appreciate all the charts you provide (and agree w/most).

In this case if we break 850 I suspect we go 2-3% below real fast before testing the breakdown. The pattern the last few days has been to ramp the market in the final 20-30 mi. Maybe short covering maybe PPT playing games. Either way the odds on bet is a break to new lows this week. Gold is also showing the way liquidity wise and it looks like it wants lower levels.