There’s No Rushing These Things

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Stan’s on holiday this week (as well as last week) and I’m minding the shop at theartofchart.net, so I’ve been more underwater than usual. I try to get these posts out in the morning but that’s not always possible. Apologies for this particularly late one.

Bears had a good day yesterday and the marginal swing high that I was looking for was not made. Does this mean that this seemingly eternal topping process is finally done? Well no, but it’s a step closer to finished. As I mention regularly, there’s no hurrying these things and topping processes particularly can test the patience of even the most experienced traders. It’s coming, and coming soon, but there’s still more to do as I’ll show below.

patient_bear

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The Fantastiks

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Over the course of the past seven years, I’ve had no shortage of charts and time cycles sent to me saying that once THIS thing happens (and you can fill in the blank as to what “this” might be) then the market will turn down hard and fall persistently. Well, “this” hasn’t made one bit of difference, at least not beyond a couple of days, for many years now, so I am understandably cynical (if you need proof, look  no further than Brexit).

I will say, however, that there is a confluence of information I’m getting about the weeks ahead that I find interesting, even if it means a relatively brief downturn. I won’t divulge the information that’s been shared with me confidentially (and it’s not CIA stuff, folks; I just don’t like sharing charts that have been sent to me without the permission of the creator), but my confidence about this autumn is pretty good.

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