Don't Stop There

The

has to fuel the flames of technical analysis once in a while. Keeping the hope alive only gives "him" better opportunities later. Belief in support levels, 50 day moving averages crossovers, head and shoulder patterns, and almost perfect A-B-C patterns like the one pictured below give easy opportunities to extract loose change from the unsuspecting TA worshippers...sort of like those little roach motels drawing the pesky trader bugs to a "guaranteed profit".

"You can check in, but you can't check out" as the ad used to say.

So let's forge ahead and finish that C to D leg and restore the faith in prophesies of the self-fulfilling kind...at least for now. The zone between 2341 and 2359 would be "textbook" after that 50% retracement back on July 19th.



The actions of the CMI have nothing to do with this TA worship. A run back up to 2500 on the NASDAQ composite for no logical reason is what the QLD-focused indicator is hungry for. The CMI is proud to be a follower and leaves the leading to .