making a new high yesterday.
We've also seen many upgrades, and that points to a major top. Everybody is bullish at the top.
But they pay no attention, when it comes out that Under Armour, and I suspect many others, have been cooking the books.
$DAX - breaks out above my red line - as predicted, and takes out the target. We see that high being retested, this morning. This is not a pattern you want to play chicken with, and I'm already adding to my short positions.
$RSX - breaks out to new (recent) highs
Russia - yes Russia! Has also lead this rally on talk of a global peace agreement. That would be a positive Trump story, so that gets buried, as CNBC, and Bloomberg. This is old news, but Trump mentioned it at last nights rally.
$TSX - Canada finally joins the party, on higher oil prices. This is bearish pattern, by the way.
Financials lead this rally, so it makes sense that they will lead the sell-off. The $BKX has rallied into a similar (broadening) pattern, as the one above - a broadening triangle. You can find that chart in my public charts area.
Trump: I Want Russia Back In The G-8 Because I Want "World Peace" RealClearPolitics
Morgan Stanley also seems to be trading in a broadening range.
We saw Berkhshire Hathaway break out, if you can call it that, but I'd watch this one closely. It's still trading in a sideways, regardless of yesterday's short covering. The only reason I checked this one, is because the lying financial fake news said it had made new high, which is hasn't
As far as the little breakouts we're seeing on the DCS charts? Throw-overs (overshoots) are common, in a broadening triangle pattern.
Until I see markets breakout on a weekly view, and rally on decent volume, I remain bearish.
DOW - "makes an all time high", means nothing to me, except that the MSM is at it again.
If market do happen to break out, you'll be the first to know, and I already have bullish charts I can swap out, but considering, a short squeeze in energy and Oil, lead yesterday's rally, and the $VIX was up? Forgetabout it.
Next update: Part 2 - in an hour, or 2.
Opening bell in 5 minutes,
AA
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