Russell Daily Chart - Russell Daily Chart triangle showing

Quick post today, as I am about to embark on a road trip with some friends.

Right now the RUSSELL 2000 daily chart looks like it is setting up a descending triangle. So the next few days action are going to be rather important.

Russell Daily Chart

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the bubble economy - Main stages in a bubble

the bubble economy - Main stages in a bubble

Below are the  Main stages in a bubble !

As you can see, things start off in a stealth phase where things start to take off, and only a few people know about it. Soon many people become aware through word of mouth, these investment vehicle gains media attention followed by massive enthusiasm, and greed or delusional buying, following by a denial and fear and the prices deflating back to a blow off phase or devaluation phase.

You have seen this exact bubble occur in the BITCOIN craze which start a year or so ago. But this chart is a great indicator of what happens along the main stages of a bubble from take off to fear or despair.

the bubble economy - Main stages in a bubble

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NYMO chart

NYMO chart

The NYMO chart as you can see does not like to get above the bollinger band lines, so it is telling us that even if this rally after today sticks, it is saying not to get too excited.

The Bears have been in control of this market since the 1st - 2nd of August, and my own interpretation of that is that they still remain the heavyweight undertone for the market for now. The next few weeks will be critical as we have the SYRIA tensions mounting, and also FED tapering announcement coming out in a few weeks, but our VIP MEMBERS HERE understand our take on that.

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