The Midline Challenge
By Tim Knight of Slope of Hope
The jobs report is obviously out, and markets are reacting swiftly. The US dollar is soaring, the Euro is swooning (as are precious metals) are bonds – – like I predicted earlier this week, to the hoots and catcalls of a few – – are plunging.
My interest, however, is in equities, and as delighted as I am at the sea of red in front of me (for now, at least!) I recognize the real challenge is breaking the ()*#%)(*^&# midline that I’ve drawn on the channel below. It’s a tough nut to crack, but crack it we must if we want any serious bear profits.
