Update: This worked for a little, but it bounced off the 12.97 level, stock is now back in it’s wedge and the pattern break out is voided. Not looking to healthy, descending wedge formed and now has dropped below it. No strong support below for this stock and there is a gap at 11.
Now the market is confused, it broke the highs yesterday it was suppose to go to the moon. But instead it fell back below the highs and the 61.8% Fib retracement. So now the market doesn’t know where to go, if the move down continues, it looks like next support will be 1200. The Piker-Indicator is showing a divergence...
Remember back in the middle of November, munis were being sold faster then Pogs in the 90′s. Here was a post on the 15th about Muni’s Of course the market forgot about this and moved on to the next new shinny ball, but here muni’s are again being sold. Here is MUB the Muni ETF, it is nearing some...
Sunday’s post was all about the Fibonacci retracement levels from the highs in 06 to the lows in 08. Bloomberg decided to pick up on this a few days after this Piker. Today early on the market looked like it was going to moon but the move up was meet with some selling. The selling caused the market...
