It is, naturally, a delight to see a screen full of red. Nothing warms my heart more than the arrogant, insipid, insolent, petulant bulls have dog feces kicked right in their faces. Here we see the ES works its way lower toward its intermediate-term 3500 goal.
In turn, the small caps are getting smaller.
The larger picture of the /NQ shows that the noble, valiant, honest, and brave bears still have their work cut out for them. Take note (red marks) of the interactions the /NQ has been having with its two major price gaps from June. Further take note of how, in spite of the efforts of God’s true chosen people (that would be the bears, naturally) the green ovals denote higher lows, which we don’t want to see. Lower lows. Not higher lows. Lower.
I am especially heartened by crude’s continued collapse, which flies in the face of the risible $380/bbl predictions being offered on ZH. Energy is in its own earnest bear market, and the entire sector is going to continue to collapse into a heap.
I am pretty much fully invested at this point, although I’ve got room for one more big ETF position, so I’m going to go through that watch list.
