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Thursday, March 3, 2022

Market Update 3/3/22 - The Most Beautiful Chart Pattern - I think - I've Ever Seen

Good morning, Traders

Yesterday's market rally may have been weak, but at least I got the direction right; and this was before chairman Powell explained that they (the corrupt fed) were hopeful about engineering a "soft landing".  

2. China has turned out not to be the best trade of the year, I thought it might be, but Russia could be! I'm not telling people to go out and buy Russian stocks, and the leveraged Russia Bull was actually liquidated, but it's something worth watching! The time to buy anything, is when you see blood in the streets - no pun intended.   

 The Most Beautiful Chart Pattern - I Think - I've Ever Seen!  

The most beautiful Chart Pattern, "I'm currently seeing in the charts, is the blow-off top on the CRB commodities chart! It's the same upturned megaphone pattern we're seeing in several other sectors, including dow stocks, but this one looks like it's nearly complete! 

As you probably know I've been looking for the top in commodities for some time, and I may have been a little early... but that's better than being labeled, "king of the bag holders"! 

There's really no way to accurately describe what this pattern looks like, and it could even go a little higher, before what will no doubt be a devastating bearish reversal, but you have to see it for yourself! 

$CRB The Thomson Reuters/Jefferies CRB Index (TR/J CRB) is a commodity futures price index. It was first calculated by Commodity Research Bureau, Inc. in 1957 and made its inaugural appearance in the 1958 CRB Commodity Year Book Source google 

Looks like it's actually taking out the 300 level in real time! Source  

 I'm a little nervous about what the catalyst is going to be for the reversal, but it may only be that everyone is bullish, and that means there simply are no more buyers, and what happens in that case, is that there is a stampede for the exits - on profit taking - and the lack of an underlying bid. 

So, I want to be short, most every type of commodities, from Uranium to silver, and everything in between!  

Good luck, and be careful shorting commodities, as there is massive risk involved. 


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