The Dow's rally looks almost done, an ascending wedge of the past weeks action and Friday was weak in breadth and volume. 34,500 looks like a reversal area, despite the counter rally the past week, we are in a bear market and until this is proved wrong, we will remain short.
Our position is longer term and not trying to scalp or swing trade by a day or two. Position size is small and very manageable, once this bear resumes proper, we can increase the leverage. The clock is ticking down to a serious selloff, the payback and more is swift.
The Fed will NOT pivot, it's all smoke and mirrors to distract and fool the most. The power of propaganda, I suppose; the blind acceptance of trusting, compliant sacks of meat and bones. Don't fall for the goosing, many bears have given up and thrown the towel. That is all by design...crippling energy prices, food prices soaring, debt levels at extreme, once the truth hits our screens, this will blow.
Precious metals and especially gold were very good this week, holding enough physical is critical in the years ahead. They don't wish you do own real money, get out of their debt system and into God's money before it's too late.
Looking for 34500ish and a turn proper this week.
Appreciate a thumbs up..Good Trading and God Bless!
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