Note from Tim: be sure to check out the prior post, which has a very important announcement. I did not want to get in the way of Xerxes’ contribution, below, so on with the show……….
While there has been no shortage of astonishing and frustrating market action in the past 12 months in both directions, I am of the mind that this market is ready to break down. As with most things in Technical Analysis, the power of 20/20 hindsight is our biggest strength (ironically). Now that we see how we got to where we are at, we can make an assumption as to the future path. From what I have seen, the next month’s actions should make a deterministic move in either direction.
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