Happy Monday, Slopers! This is our last full trading week of the month, and with NVDA reporting after the close on Wednesday, it’s bound to be an exciting one.
I have received nothing but positive feedback on our new SocialTrade app for iPhone/iOS, so if you haven’t downloaded this free app yet, please do so.
There are many reasons for the bears (all three of us) to be celebrating what’s happened over the past few weeks, particularly by way of crypto’s latest demise, as observed here by harebrained cheerleader Eric, who cleverly calls it………wait for it………….”digital gold.” Is that sly, or what? What a brain trust! I wonder what other hackneyed, shopworn utterances we can anticipate.
Equity futures are red across the board. The /ES has clearly morphed its former support line into resistance.
The /RTY, spiking to its lifetime peak after the China “framework” (left side of chart) has been hammered out a steady series of lower lows.
And the /NQ, far and away the most vulnerable this week, created an absolutely sensational head and shoulders top and, pushing to its neckline around midnight, has resumed behaving As God Intended and obliterating bull profits.
I have 30 short positions and intend to acquire more. I shall leave you with a moment of joy from everyone’s favorite puppy.
