Courtesy of Read the Ticker.
After periods of extended trend, eventually price hits a very long term trendline, and this is where the other side of the trade are most likely to react. Risk increases.
Newmont fell through the demand line only to show it was a false break, good defense by the bulls (so far). This action forces shorts to cover.
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We can most likely expect similar action with US Dollar DXY index, a bust through and some volatility (code word for correction). The US dollar is in the zone where corporate America will be hurting, and therefore calling senators to motivate a change.
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Investing Quote…
..”Nothing new ever occurs in the business of speculating or investing in securities and commodities.”..
Jesse Livernore Trading Rule
..”A market is the combined behavior of thousands of people responding to information, misinformation and whim”..
Kenneth Chang
