In reference to yesterday’s update, the lame activity continues with no follow through in dealing with the EMAs 10 and 20.
What’s more, it could be forming another bear flag. I do not want to fall into a trap of being mentally whipsawed and nor should you. A writer showing you lines on a chart and providing interpretations can be made to look very silly if the index blasts upward by 20 points on Tuesday.
So understand that all I can do is show you the chart and tell you what I am doing, which is to take a few profits and boost cash. There is little volume in the sector on this pre-holiday Friday, as even the DUST bear ETF is rising on little volume.
I have not seen enough this week to make me bullish. That is as clear as I can be. Bearish? No, not really. A lover of cash? Yes, that is me.
Enjoy your weekend and see you Sunday with a hopefully concise and relatively brief NFTRH 240.
