Scary Mystery Chart
Care to guess this chart? It's the monthly chart of a popular US sector index. As you can see, it failed to break its 7-year channel right at the same level of the 76.4% retracement of the decline from the 2007 high to the 2009 low. The relative strength index may also indicate further declines towards the mid-point of the channel's height, a break of which may drag it to pre-November levels. i.e. erasing the all of the gains from the Trump's victory rally. Again, this is not FX, commodity, bonds or a ratio. Just a straightforward index. It's a big deal when you find out what is.
Capitulation or Adjustment?
by Ashraf Laidi | Feb 28, 2020 1:32
See you at NY Traders' Expo
by Ashraf Laidi | Feb 27, 2020 11:38
للمشاهدين خارج الشرق الأوسط
by Ashraf Laidi | Feb 27, 2020 10:48
هل حان وقت الشراء؟
by Ashraf Laidi | Feb 26, 2020 15:54
Between Greed & Fear
by Ashraf Laidi | Feb 26, 2020 15:32