From #698’s summary…
Here is da ‘V’ this morning…
CDNX has cracked resistance and popped to the down-trending SMA 50. This is where a move toward a final, speculative inflation trade upside blow off could start. It is of course very tentative, but at least we’ll be watching it. If it reverses and fails it would remain a negative divergence. If it breaks out and rallies the upside for lots of small, inflation-sensitive specs could be significant as the larger inflation trades grind out a top, which I am not anywhere near calling yet.
