All four days this week have been about recovering from last week’s action; I suspect/hope the unraveling can resume on schedule next week. Aligned with that, Japan is setting itself up for a bigger fall than we’ve seen for a while. If DXJ can fight its way back to about $47, I think it will [...]
Social media stocks in general should, I think, continue their steady waterfall. Facebook reports after next Wednesday’s close, which should be as good a reason as any to accelerate the downtrend, provided we don’t break the series of lower highs I’ve tinted.
Yesterday morning SPX gapped over the 50 hour MA at 1843, double-bottom resistance at 1844, and the 50 DMA and falling channel resistance at 1847. Those held as support for the rest of the day and the opening gap didn’t fill, so as long as they hold as support this morning the next step is [...]