Yesterday, tech stocks blasted above resistance, which seemed to be the destruction of the final wisp of hope any bears might have had left. Well, it only took a few trading hours, but this breakout has already met with ruination.
Here is the daily chart, below, as opposed to the finely-grained minute bar chart. This isn’t any kind of sea-change, but it’s helpful, and I’ll never miss an opportunity to celebrate bulls losing moey.
I maintain my bearish positions in energy. I wish I had the gonads to have stuck with China more, as PDD is my only remaining position, but you know me better than that. As usual – – – great chartist, garbage trader.
