Pop And Then Drop?

Some charts follow showing possible market direction.

Could we see a "sell the news" event once an agreement is reached in Washington?

The market looks horribly overextended, in my view, and ripe for correction.

At the same time gold is seriously beat up, and perhaps due for a reversal.

The next few days should tell the tale.


  1. Indeed PW I sense a disturbance in the force, as if a million Toilets all flushed at once.

    SVU earnings Thursday pre-market, and GE Friday both should hit, admittedly I have been buying SVU Puts on the way up as this stock is S&P sensitive, make it up make it down or at best if earnings miss the Puts will be in play.

  2. GE looks like it has a slanted Head & Shoulders pattern to me. Certainly it is losing momentum.

    I agree that we seem to be going right down the dumper.


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