Today's intraday reversal in the equities markets follows a pattern that has been established of late of selling into rallies. Key support levels have been broken to the downside and without a late day recovery a close below those levels will likely usher in a significant pullback.
The dollar has also broken out of its descending wedge pattern. I was observing that the dollar was not selling off on the significant early strength in equities and was instead starting to push higher. I think the dollar is beginning a rally that will surprise many.
I generally deliver my semi-monthly "BullBear Market Report" as a written blog entry. This month, due to a time crunch and the desire to experiment, I have prepared it as a vide presentation. This was produced on Sunday night and the analysis in it seems to be playing out in the markets now.
To get the trades that proceed from the analysis please join BullBear Trading Service. It's currently free to join.
Your comments are welcome.
Listen to and watch The BullBear Market Report every Monday and Thursday after the New York closing bell.
You need to be a member of BullBear Trading: Stock and Financial Market Technical Analysis to add comments!
Join BullBear Trading: Stock and Financial Market Technical Analysis