Well, since the market was at the highest point in human history just yesterday, it would seem that the bulls are surely due for some kind for relief since they had to endure several hours of selling. It would seem to me one reasonable candidate for a bounce would be tech stocks, since the NASDAQ has, once again, found support at the supporting trendline of its ascending channel:
But is this a real market? Do such classic techniques hold true? Let’s go to the Sanchez-o-Meter.
On the LEFT is a natural, organic, God-given creation. On the right is an artificial, surgically-twisted, Jack Nicholson as the Joker creation. Which market is it? YOU be the judge!
