Alcoa is, at long last, seriously starting to tumble. There’s nothing but open air beneath this gargantuan top.
Foiled Again
Slope of Hope Blog Posts
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Wiggle Wobble
Good morning, everyone, and welcome to the new week. There isn’t much going on in the market, since the earnings season is pretty much over and there aren’t any meaningful economic events forthcoming. I actually prefer that, because the market can actually have a bit of freedom based on good old supply ‘n’ demand instead of some binary event.
The /ES was on a nice, steady track lower on Sunday, but over the course of the night, For No Particular Reason ™, is blasted higher by 35 points. That seems to have burned off, and as I am typing these words, the /ES is essentially unchanged.
Fad Fades Fast
As I’ve mentioned, rarely have I received as much flak as I did when I dared question the artificial intelligence lunacy. I have many reasons for doubting AI, but regardless of my reasons, the AI zealots are positively unhinged compared to the crypto freaks. So I learned to keep my mouth shut. In any case, it seems that my declarations that this thing was a public relations coup, and little else, are starting to bear fruit. You can fully expect this downtrend to accelerate.
PREMIUM: Short-Term Levels (by Xerxes)
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