Startup Castle, about which I wrote earlier this month, is barely out of the gate, and the unvarnished reality is already starting to leak out. Regardez vous:
You can look are more specifics here. Suffice it to say, I have chosen to remain here in Palo Alto with my family.
“This is the most hated rally in history”
“It isn’t a bubble because people think it’s a bubble”
“Everybody is bearish”
I’ve been doing more work on the series of bearish reversal candles over the last twenty years and have combed through 90% or so of the intervening period. I’ll finish that at the weekend and may do a dedicated post on these. The ones I have found so far are:
1999 Feb – From 2nd candle into 5% decline
2002 Dec – From 2nd candle into 17.3% decline
2004 Dec – From 2nd candle into 4.46% decline, then marginal higher high, then 7.56% decline
2005 Oct – From 2nd candle into 2.08% decline
2005 Nov – Failed and resumed uptrend into December interim high
2005 Dec – From 2nd candle into 4.44% decline
2007 Oct – From 3rd candle into 57.4% decline
2014 May – From 2nd candle into 1.66% decline
2014 Sept – From 2nd candle into 1.65% decline, then marginal higher high, then 9.83% decline
2015 May – To be determined
I first wrote about the World Market Index in my post of March 5th…you’ll see subsequent updates there, as well.
The following updated chart, as of Thursday’s close, shows that price has broken above the 1900 major resistance level, retested it and bounced, after a bullish moving average Golden Cross formed in mid-April.
It is too early to call it a confirmed breakout, but the Bank index has popped above cyclical bull market highs. Weekly MACD and RSI both look good.