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The excitement from yesterday morning’s all-too-brief plunge is ancient history now. Let’s take a look at some important cash indexes.
First up is the Dow Jones Composite, which is still daintily dancing within its wedge pattern. We are getting awfully close to some kind of resolution here, because the apex of the triangle is rapidly approaching.
Well, the knee-jerk reaction was predictable enough. After yesterday’s briefly exciting sell-off, the Powell put was firmly in place and bounced mightily on the ES……….
After some rough sailing on the crypto seas, one might assume it was a total disaster. Not at all. There was some damage, to be sure, including the chart I’ve focused most upon, Bitcoin Cash ($BCH). But even Bitcoin, which suffered the worst crash on a dollar basis, only gave up the gains it had experienced over the past dozen days. Here is a sampling of some of the alt-coins that took no meaningful heat from the downturn and remain bullish formations:
