By Tim Knight
Well, my hope that prices would swan-dive away from the broken trendline are denied – – or at least delayed – – as equity prices clamor back toward the underbelly of the broken trendline. We see that here with the S&P 500 e-mini futures…….
……as well as the NASDAQ…….
There’s no particular news driving this (and, to be clear, the gains are modest – – about a quarter of a percent overnight) but maybe the Jackson Hole event is lulling people into banging the Buy button again. All I know is that if selling does resume, it tends to escalate extremely fast, so I’d rather be in position beforehand.Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.