Uncle Buck’s pattern is active, everybody sees it now and as noted in NFTRH 471, the buck has lost its contrarian edge (sentiment is neutral from previously universally hated) and is a candidate for a short-term pullback. The target continues to be the SMA 200 (currently 96.88 and declining).
In an unruly market with a mid-week FOMC event I’ll take the birds in hand and maybe re-position later on opportunity. The profits were only a few %, but the positions were large so it was a good trade (actually, macro hedge).
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