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Excerpted from NFTRH 202:
Bernanke Plays it Perfectly
From last week’s opening segment:
“Another way to look at it is
that the market’s fate appears to rest with the jawbone of the man about to
speak at Jackson Hole on Friday.”
From last week’s closing ‘Wrap Up’ segment:
“I think the theme now is that
if you are a trader and if you have profits it is a logical time to take some
or all of them.”
This is going to be a single-digit stock within a year. Probably around the time Zynga and Groupon are delisted.
I have mentioned Arm Holdings (ARMH) as a short on my Tastytrade show and in my videos here many times recently. It's finally doing what it's supposed to do, having fallen about 8% so far today. This was a beautiful retracement to a broken symetric triangle.
It's rare for me to be working through my charts in the morning and to see everything pointing in the same direction. That's what I'm seeing this morning though and I'm leaning correspondingly bearish today.
On SPX resistance was found at the middle bollinger band on the daily chart on Friday. That is cautiously bearish:
In order to assist TK with some quick content, I have posted the below artice by Sy Harding, in its entirety, as I find the analysis most compelling:
