As expected, the Fed threatened much but did little - extending Twist
through the end of the year. Stocks and commodities didn't much like
it; the dollar is up nicely.
If the sell-off holds or accelerates at all, it will confirm the Point B we placed at 1363.46 yesterday -- the Fib .618 retracement of the 1422-1266 drop. It might also confirm my suspicion that the daily RSI pop out of the channel was an aberration rather than a broadening of the channel, as seen in the following chart. I keep coming back to this RSI chart below because of its import.
If the sell-off holds or accelerates at all, it will confirm the Point B we placed at 1363.46 yesterday -- the Fib .618 retracement of the 1422-1266 drop. It might also confirm my suspicion that the daily RSI pop out of the channel was an aberration rather than a broadening of the channel, as seen in the following chart. I keep coming back to this RSI chart below because of its import.
...continued on pebblewriter.com...
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