This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
.
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford
Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
.
The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj
The weekly YMM11 looks like it is getting ready to be pushed off a cliff and fall to the 20 sma (11518). Friday's close will either confirm or negate this scenario. A close below 12317 on the weekly is a good clue that weekly momentum is bearish alright. Price volume studies are buried in the negative as well, on increasing open interest...,suggesting more and more traders ARE indeed entering as convinced sellers.
The weekly YMM11 looks like it is getting ready to be pushed off a cliff and fall to the 20 sma (11518). Friday's close will either confirm or negate this scenario. A close below 12317 on the weekly is a good clue that weekly momentum is bearish alright. Price volume studies are buried in the negative as well, on increasing open interest...,suggesting more and more traders ARE indeed entering as convinced sellers.
ReplyDeleteKeith
thedailyeminitrader.com