Doctor Copper is triangulating on 2 channels, one up one down, although it is "respecting" the down channel more.
The market tends to become "boring" for a while, as if all the fundamental stuff matter not a bit. This is the "lured into complacency mode". Trust me, in the socio-economic reality of human related herd communication, the Japan thing can also turn for the worse, and 50,000,000 Japanese citizens panicking (usually stoic) from a radiation scare....wait until the humans can't occupy the plant space at all, and they aren't ready with the worlds best robots and robot operators. If that happens...big trouble. They are not cooling the reactors, they are fighting with radioactive water that may actually be groundwater and may continue to seep into the machinery/pump rooms.
Sorry---was not even going to mention Japan. Apparently the workers have limited food, no beds. Just Insane how a Chinook could easily fly in 600 futons for crying out loud. What would that take? A phone call to the US Military in Zama and a credit card. Help those guys out! A Military operation would not treat their people like this, military understands that the basics must be taken care of for the workers, as best as can be done.
Doctor Copper, running out of time, has to decide soon, up or down.
I am with you..... I think the market is done here. I love the way we always seem to have a low volume rally following a bearish engulfing. When Daneric is bullish.... everybody is bullish!
ReplyDeleteWow, Daneric is bullish?? I haven't read him in quite a while, but that's wild.
ReplyDeleteNice charts as always, Steve. You'd think we're at a crossroads of some kind....oh, willthethrill, that brings us to your avatar! ha ha
Went down to the crossroads....
Love RJ.... Dan is not exactly bullish but his post seems to just give up and say we are in a wave to higher highs.
ReplyDeleteLooks like Copper wanting to make an abc down here over past few days. i'm looking at the line that goes back to the June/July bottoms from last year, that extends through the bottom from a couple weeks ago. So support would be around 415 or so. You see that?
ReplyDeleteI see PRS 100 line support around 415 but I think that will bust, maybe just take a pause there, great place to take a short and get ready to reverse it long if the market shows the way.
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