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General Market Commentary
However we did have one large rally, led by the heavy hitters. Watch the $COMPQ for a trend change as it happens. Chart pattern identical to the Feb top. MIDU and TNA on sell using the $ ETF 45 Day 1 hour charts / trendline and SAR. $INDU trying to hold at 61.8 fib after rising 3,000 points in 15 days. A top will be when? Protect profits if you have them. Good weekend to all.
Wed 11 am> It was, wasn"t it? $BPGDM top and sellers come forth. The $INDU pnf chart shows the $INDU up over 6900 points from the March low. $COMP sellers alive. QID and SQQQ, at risk off...
Patience and Diligence...
Tues 3 pm > Sellers quitely skimming off the $COMP with upward momentum waning, while the $INDU bumping up on resistance at 61.8 % fib. $INDU PNF chart show nice level to be building short positions. In shorting: buy the greed, sell the fear, hoping that a top will soon be here! But what do I know? Feb 21st was a good day...the next good day will be? The $BPGDM and LABU charts are showing a triple top and a sell! Lock in those gold goodies...
Protection of profits and capital are much more important than dividends, in a down market. Earnings season almost here, downgrades are coming...
Proverbs 3:16 Blessed is the man who gains wisdom, the man who gains understanding.
Wealth is good, health is better and God is Great!
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