It’s been quite a week, hasn’t it? I am still expecting idiocy from out of the blue, but what can you do? I at least wanted to point out the Russell 2000:
Three things to point out:
- The green tint is the highest point in human history, which was last September;
- The yellow tint is the breakout that had me completely freaked out only five trading sessions; this has now quite obviously failed;
- The red circle is the trendline break.
The government will jawbone and manipulate like crazy to try to turn this around. They may meet with total success. Or partial. Or none at all.
They day WILL come that rationality returns, and I only hope I am alive to witness the devastation, chaos, and mayhem. I will be doing my part to cheer it on and yell loudly to anyone within the sound of my voice precisely who is responsible.