Also noted that Junk Bonds, which have been following equities as a "risk asset" did not follow the market up today. Supposedly bond traders are a bit smarter than their equity slinging cousins.
Monday, July 26, 2010
Rising Wedge
These wedges are generally bearish, however since it is also a triangle, it could have a continuation of uptrend instead.
Also noted that Junk Bonds, which have been following equities as a "risk asset" did not follow the market up today. Supposedly bond traders are a bit smarter than their equity slinging cousins.
Also noted that Junk Bonds, which have been following equities as a "risk asset" did not follow the market up today. Supposedly bond traders are a bit smarter than their equity slinging cousins.
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Hi, Steve. Man, the march upward is relentless, with hardly a morsel for bears. I agree with you, I'm wondering if this wedge doesn't break up...or maybe, has a short fakeout break down before screaming higher in a third of third wave or some such thing.
ReplyDeleteThe full moon isn't helping, I'm sure! LOL
I am thinking bears are bored and bulls are lulled into complacency....perfect time to drop the market 4%. I guess Dabama authorized some more money to pump the markets....maybe I am wrong, this time it does not seem to be all at night futures gamesmanship. I am set to short on a .4% pullback, it might go fast. Full yellow moon tonight looked very ominous, of course I won't trade on the ominous part.....
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