NYMO chart

NYMO chart

We are -57% on the NYMO.

The NYMO tends to trade around inside the bollinger bands quite nicely and as you can see it does not like to trade outside of these. Only on rare occasions does this happen. We are again close to the bottom bollinger, and even though the market is very overbought we seem to be holding quite well.

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slowly slowly catch a monkey

slowly slowly catch a monkey

The s&P chart below is telling us a lot right now. While I keep seeing people scream down the markets are not saying that yet.

We are overdone on the upside and met our 1500 targets, however the market does what it does best, listens to no one or nothing. Right now the market is still in a skinny upwards channel. So far that channel has been holding, and for now that is NOT BEARISH.

spx daily chart

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