Momentum, money flow, and rate of change have been in downtrend since April of 2016, and have been especially depressed since June of this year, as shown on the following Weekly chart of Equifax (EFX).
Well, it’s the same thing for my trading today – – “profitable yet annoying.” I guess it beats “losing and soothing.”
Some of my strength is coming from semiconductor shorts. Let’s face it, most semi strength lately has come from the totally retarded ascent of cryptocurrency, which seems to be kind of hitting some rough patches, after hitting the laughable $5,000/bitcoin level.
This entire week has been spent doing one thing: just hanging out beneath the trendline. No surge (thank God). No break. Just………..lingering. I have no quarrel with the ES being down a few points here and there, but for Pete’s sake, can we get a -40 one of these days? Is it no longer possible? Because the trendline is BROKEN, and it’s time to plunge, baby.