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Triangles are very tricky to trade as I’ve mentioned many times, and yesterday’s break up was an impressive false break.The close effectively on the daily middle band and 60min MA was very ambiguous though, and the move down overnight is suggesting very strongly that this triangle is going to break down, which is the natural direction as these triangles lean 64% bearish, opening up the obvious target area below at 2082-5 that I have been looking at for most of the week. SPX 15min chart:
I’ve done many, many posts about the insane real estate market here in the Bay Area. I’m not going to bore you with another “can you believe how much they want for this?” because, by now, I think you kind of get the point.
However, this week, in the venerable Palo Alto Weekly (which, as is typical for the newspapers around here, has a publishing frequency that has absolutely no correlation to its moniker) a local real estate agent, Xin Jiang (pronounced “Xin Jiang”) composed the following article, which I have helpfully highlighted for you: (more…)
