Archive for the ‘Immediately available to public’ Category

Prosecutors Unveil Full Details Of Anthony Weiner’s Pedophilia

Courtesy of ZeroHedge. View original post here.

Earlier today we reported that as part of the government's sentencing memorandum (published at the bottom), federal prosecutors asked that disgraced former Congressman Anthony Weiner, and the man Hillary Clinton has quietly added to the nearly infinite list of reasons why she lost the presidential election, be sentenced to about two years in prison for engaging in sexting with an underage, 15-year-old girl. Prosecutors filed paper in Manhattan Federal Court on Wednesday in advance of Weiner’s sentencing. In the document, prosecutors asked that the judge use the sentencing as an opportunity to send a message to other perverted politicians:

The Government respectfully submits this memorandum in connection with the sentencing of Anthony Weiner, which is scheduled for September 25, 2017, following his guilty plea to transferring obscene material to a minor. Although the defendant’s self-destructive path from United States Congressman to felon is indisputably sad, his crime is serious and his demonstrated need for deterrence is real. The non-custodial sentence that Weiner proposes is simply inadequate; his crime deserves time in prison. For the reasons set forth below, the Government respectfully requests that Court sentence Weiner to a term of imprisonment within the range of 21 to 27 months.

Weiner's sentencing will take place almost exactly a year after the New York Post published a story about him sexting with another woman who wasn’t his wife. Weiner said he would plead guilty in May after prosecutors brought charges following revelations that he also sexted with the 15-year-old, whom he met over Twitter. Both the girl and her father told the Daily Mail that Weiner knew she was underaged when they were corresponding.

And just to make sure that Weiner does end up in jail, the US Attorney for the district of New York, Joon Kim, laid out in vivid – and gruesome detail – the circumstances of his pedophilia. As taken from the prosecutor memorandum:

In the evening of January 23, 2016, a 15-year-old girl (the “Minor Victim”) initiated contact with the defendant by sending him a direct message on Twitter. Over the next several hours, the Minor Victim and Weiner exchanged a series of messages, ranging from the mundane to the provocative. Early in the exchange, the Minor Victim revealed


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Balance Sheet Reduction Starts October: Like “Watching Paint Dry”

Courtesy of Mish.

As expected the Fed will begin balance sheet reduction in October. The Fed penned in one more rate hike in December as its FOMC statement shows the hurricanes will have no lasting effect on anything.

Hurricanes Harvey, Irma, and Maria have devastated many communities, inflicting severe hardship. Storm-related disruptions and rebuilding will affect economic activity in the near term, but past experience suggests that the storms are unlikely to materially alter the course of the national economy over the medium term.

Higher prices for gasoline and some other items in the aftermath of the hurricanes will likely boost inflation temporarily; apart from that effect, inflation on a 12-month basis is expected to remain somewhat below 2 percent in the near term but to stabilize around the Committee’s 2 percent objective over the medium term. Near-term risks to the economic outlook appear roughly balanced, but the Committee is monitoring inflation developments closely.

The Committee expects that economic conditions will evolve in a manner that will warrant gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.

In October, the Committee will initiate the balance sheet normalization program described in the June 2017 Addendum to the Committee’s Policy Normalization Principles and Plans.

Dot Plot Shows One More Hike

For the rest of the year, the Dot Plot shows four FOMC participants expect no more hikes, one expects two more hikes, and eleven expect one more hike.

Dot Plot April 2017

In April,  7 participants thought rates would be 2.25% or higher by the end of 2018. Today,  only 5 participants think so. The top expectation for 2018 was 3.25% to 3.5%, today it’s 2.5% to 2.75%.

In April, the top expectation for 2018 was 3.25% to 3.5%. Today it’s 2.5% to 2.75%.

Watching Paint Dry


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Tagging Fake Articles Is Failing To Combat Fake News

By Rupert Hargreaves. Originally published at ValueWalk.

So-called “fake news” and not in form of The Onion (which is obvious satire) has been around in one form or another for hundreds of years. The world’s first daily newspapers, which were printed in London’s Fleet Street in the early 1700s, were full of stories and hearsay designed to influence readers and drum up sales. However, the readership of these papers was relatively limited compared to the size of the audience available to online publications today.


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The dissemination of information has never been easier than it is today and while this is, for the most part, good news, it means that controlling the spread of fake or misleading news, and even sarcasm from sites like The Onion is harder than ever before.

The prevalence of fake news during last year’s presidential election made it clear how easy it has now become for misleading news to influence public opinion. It also showed how difficult it has become for readers to tell the difference between fake and real news.

At the end of last year, the Guardian reported on a study carried out by Stanford’s Graduate School of Education, which assessed more than 7,800 responses from middle school, high school and college students in 12 US states on their ability to assess information sources. According to the paper, researchers were “shocked” by students’ “stunning and dismaying consistency” to evaluate information at even as basic a level as distinguishing advertisements of satire like The Onion from articles.

Tagging Fake Articles Even


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S&P Loses 2,500, Gold Tests $1300 As Fed Flattens Yield Curve

Courtesy of ZeroHedge. View original post here.

As Yellen's press conference began, Gold and stocks legged lower, taking out $1300 and 2500 respectively..

As we detailed earlier, the dollar spiked higher and the yield curve spiked lower following The Fed's hawkish statement. 2Y yields hit their highest since Dec 2008…

As December rate hike odds jumped to 63%.. so still not completely buying The Fed's plan…

The dollar spiked…

But the yield curve cracked notably flatter… as the long-end was unimpressed.

This is not what The Fed, or the banks, were hoping for. How long before bank stocks wake up?

This is the biggest flattening in 5s30s since Dec 2016.

For now, gold is down, the dollar is up…





How Did Toys “R” Us Implode So Fast? The CEO Explains

Courtesy of ZeroHedge. View original post here.

Reviewing first day motions from a company's chapter 11 docket, and more specifically the CEO's declaration, can be a great way to learn exactly what happened in the days/weeks leading up to a bankruptcy filing.  The company spends millions of dollars every month on expensive lawyers (Kirkland & Ellis in the case of Toys "R" Us), investment bankers (Lazard), turnaround advisors (Alvarez & Marsal), claims administrators, etc., who all spend many sleepless nights in the days leading up to a filing trying to make sure the first day motions are as informative as possible.

With those high expectations, you can imagine our surprise when we opened the Toys "R" Us CEO's declaration to find this "preliminary statement":

Yes, Kirkland & Ellis was paid $800 an hour (ish) to type up the Toys "R" Us jingle in a court filing.  Bravo!

In any event, once you get beyond the amateur-hour antics, CEO David Brandon explains why Toys "R" Us was forced to file for bankruptcy in such a hurry.  While debt service on a excessively levered capital structure was a big part of it, Brandon explains that media speculation over a potential bankruptcy filing led to a rapid tightening of trade terms just as the company was trying to build inventory ahead of the holiday season.  Here are the details:

1.  Debt - Apparently spending the majority of your FCF on debt service while ignoring capital improvements and store remodels is a bad long-term business strategy for a bricks-and-mortar retailer.

Toys “R” Us, however, has been operating for more than a decade with significant leverage, necessitating the use of substantial amounts of cash each year (approximately $400 million) to service the more than $5.0 billion of funded indebtedness.  But these substantial debt service obligations impair the Company’s ability to invest in its business and future.  As a result, the Company has fallen behind some of its primary competitors on various fronts, including with regard to general upkeep and the condition of our stores, our inability to provide expedited shipping options, and our lack of a subscription-based delivery service.

2. Vendors - Media speculation of an imminent bankruptcy filing starting


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De Facto State of Emergency: Spanish Police Storm Catalonia Government Office

Courtesy of Mish.

The Independent reports Spanish police storm Catalan government buildings to stop independence referendum.

The Catalan president described the raids as a “co-ordinated police assault” and a “de facto state of emergency”.

Spanish national police have stormed ministries and buildings belonging to Catalonia’s regional government to put a stop to the region’s independence referendum.

In the early hours of the morning armed officers arrived at various Catalan ministries, including the economy department, foreign affairs department, and social affairs department, Spanish media reports.

At least twelve Catalan officials are said to have been arrested, including the chief aide to Catalonia’s deputy prime minister, Josep Maria Jové. The arrests come as the mayors of Catalan towns who back the referendum were yesterday questioned by state prosecutors.

Pro-independence crowds have formed outside the regional ministries in support of the provincial government and in protest against the raids and searches.

Speaking at lunchtime Carles Puigdemont, the president of the Catalonian government, said the Spanish government had “de facto suspended” home rule in the province.

Spanish Assembly Rejects Use of Force

The tactics of prime minister Mariano Rajoy have not won him any popularity contests.

The Spanish national assembly on Wednesday rejected a motion to support the Spanish government’s heavy-handed response to the the referendum by 166 votes against to 158 in favor, after the centre-left opposition party PSOE teamed up with left-wingers Podemos and smaller separatist parties in the parliament.

After news of the raids broke on Wednesday, separatist political parties, as well as Podemos, cancelled all their planned political events for the rest of the day.

“It is unacceptable for there to be political prisoners in a European democracy. The Partido Popular leads us to an authoritarian regression that cannot be tolerated,” a spokesperson for Podemos said on social media.

Government Suspended

The Guardian reports Catalan president says Madrid is suspending region’s autonomy.

The Catalan president has accused the Spanish government of effectively suspending the region’s autonomy and declaring a de facto state of emergency. Police officers raided Catalan government offices on Wednesday and arrested 12 senior officials in a bid to stop an independence referendum being held in less than two weeks’ time.

Carles Puigdemont described the raids as a “a co-ordinated police assault” that showed that Madrid “has de


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How Many of 2017′s Retail Bankruptcies Were Caused by Private-Equity’s Greed?

Courtesy of Pam Martens

According to S&P Global Market Intelligence, there have been 35 retail bankruptcies this year, almost double the 18 retail bankruptcies of last year. The filing by Toys ‘R’ Us this week was the latest.

What many of these retailers have in common is that they were taken private in leveraged buyouts (LBOs) by private equity (PE) firms. Toys ‘R’ Us, Payless ShoeSource, The Limited, Wet Seal, Gymboree Corp., rue21, and True Religion Apparel were all LBOs. Gander Mountain can also be included in this list if you reach back to its 1984 LBO. Far too many LBOs are simply asset stripping operations by Wall Street vultures who load the company with enormous debt, then asset strip the cash from the company by paying themselves obscene special dividends and management fees.

On June 12 of this year, the official committee of unsecured creditors to Payless, consisting primarily of Payless stores’ landlords and vendors, alleged in a filing in U.S. bankruptcy court that the private equity firms involved in the Payless LBO in 2012, Golden Gate Capital and Blum Capital, had “siphoned over $400 million out of Payless. Lawyers for the unsecured creditors wrote the following in their objection:

“The Sponsor Group [Golden Gate Capital and Blum Capital] acquired the Debtors [Payless, et al] in October 2012 through a leveraged buyout (the ‘2012 LBO’) which increased the Debtors’ debt from approximately $125 million as of the fiscal year end immediately prior to the leveraged buyout to approximately $400 million.  After the 2012 LBO, the Sponsor group siphoned over $400 million out of the Debtors…

“In connection therewith, the Committee engaged one of the nation’s foremost valuation experts – Dr. Israel Shaked and the Michel-Shaked Group as an expert witness.  Dr. Shaked worked closely with the Committee professionals to analyze the Sponsor Claims and produced the 160-page Shaked Report which has been provided to counsel for the Debtors, Cremens, certain Term Loan Lenders, and the Sponsor Group, and to the Court under seal.  In the Shaked Report, Dr. Shaked has concluded (among other things) that (i) as of February 27, 2013, immediately following the 2013 dividend recapitalization, the Debtors’ equity value was negative by a substantial margin, and therefore the Debtors were…
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US-Pakistan Relations: USA Has More To Lose Than Pakistan

By Polina Tikhonova. Originally published at ValueWalk.

US-Pakistan relations are said to be getting better after an “ice-breaker” meeting between Prime Minister Shahid Khaqan Abbasi and U.S. Vice President Mike Pence.

Until Tuesday, when the two met on the sidelines of the United Nations General Assembly, cracks in US-Pakistan relations had kept deepening at stratospheric speed following U.S. President Donald Trump’s policy statement on Afghanistan and South Asia.

US-Pakistan Relations

By Gage Skidmore from Peoria, AZ, United States of America (Donald Trump & Mike Pence) [CC BY-SA 2.0], via Wikimedia Commons

As part of his Afghan strategy, unveiled a month ago, Trump made it clear that Pakistan had to “do more” in the fight against terrorism and warned the South Asian nation had “much to lose” by continuing to harbor militants on its soil.

Trump’s criticism prompted an immediate response in Islamabad, with Pakistani officials threatening they would sever ties with Washington and Foreign Minister Khawaja Asif going on a tour around key Eurasian powers in an apparent attempt to discuss forming a united front to oppose America’s Afghan policy.

On Tuesday, PM Abbasi and VP Pence met to confront the elephant in the room and sort out differences plaguing the decades-old partnership between Pakistan and U.S.

Are US-Pakistan relations actually getting better?

While there has been no immediate effect of US-Pakistan talks on the sidelines of the UN General Assembly in New York, foreign secretary Tehmina Janjua, who briefed Pakistani media about the meeting, called the meeting between PM Abbasi and VP Pence “ice-breaker.”

The two sides are said to have vowed to remain engaged and carry forward the diplomatic relationship between Washington and Islamabad. The meeting comes as dozens of reports circulating in the media suggest that President Trump is considering to designate Pakistan a terrorist state, something that would further aggravate tensions between the two former allies.

During the meeting, PM Abbasi informed VP Pence about decisions taken by Pakistan’s National Security Committee. The two sides are also said to have agreed to continue dialogue over the Afghanistan issue. In fact, Mrs. Janjua told the media that PM Abbasi and VP Pence agreed that a U.S. delegation will visit Pakistan next month to continue negotiations.

What did Abbasi and Pence talk about?

VP Pence said the Trump administration “look forward to exploring ways so…
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Existing Home Sales Unexpectedly Decline 1.7 Percent: Fourth Drop in Five Months

Courtesy of Mish.

The Econoday consensus expected a small increase in existing home sales in August.

Instead, sales decline a substantial 1.7%. The August decline follows a 1.3% decline in July.

Fourth Drop in Five Months

MarketWatch reports Existing Home Sales Fall in August for the Fourth Time in Five Months.

Existing home sales in August dropped for the fourth time in five months as real-estate agents continue to blame a lack of available homes to buy.

The National Association of Realtors said existing home sales fell 1.7% to a seasonally adjusted rate of 5.35 million. Economists polled by MarketWatch expected a 5.44 million pace.

The median existing-home price in August was $253,500, up 5.6%.

Total housing inventory at the end of August declined 2.1% to 1.88 million existing homes available for sale, and is now 6.5% lower than a year ago.

Harvey Impact

The Wall Street Journal reports A sharp drop in sales in Houston, which was racked by Hurricane Harvey, accounted for most of the overall decline.

Existing-home sales fell 1.7% from a month earlier to a seasonally adjusted annual rate of 5.35 million, the National Association of Realtors said Wednesday. Economists surveyed by The Wall Street Journal expected a rate of 5.45 million sales in August.

Sales have risen just 0.2% over the past year.

A sharp drop in home sales in Houston, which was racked by Hurricane Harvey last month, accounted for most of the overall decline in home sales, NAR economist Lawrence Yun said. He estimated overall sales would have been flat from the prior month without the hurricane effects.

Housing Starts Down Again

Yesterday, the Census Bureau New Residential Construction report shows housing starts declined again in August but July starts were revised substantially higher. Still, starts have lost momentum and are only up 1.4% from a year ago.


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Trump Slams Rand Paul As “Negative Force” On Fixing Healthcare; Paul Immediately Responds

Courtesy of ZeroHedge. View original post here.

Now that hopes for a bipartisan deal to fix Obamacare are dead and the Republicans are pushing on with a last-minute scramble to repeal Obamacare ahead of a Sept. 30 legislative deadline in hopes third time will be the charm, on Wednesday morning just after 8am, President Trump slammed Sen. Rand Paul for being a "negative force" on health care.

"Rand Paul is a friend of mine but he is such a negative force when it comes to fixing healthcare. Graham-Cassidy Bill is GREAT! Ends Ocare!" Trump tweeted adding "I hope Republican Senators will vote for Graham-Cassidy and fulfill their promise to Repeal & Replace ObamaCare. Money direct to States!"

Rand Paul is a friend of mine but he is such a negative force when it comes to fixing healthcare. Graham-Cassidy Bill is GREAT! Ends Ocare!

— Donald J. Trump (@realDonaldTrump) September 20, 2017

I hope Republican Senators will vote for Graham-Cassidy and fulfill their promise to Repeal & Replace ObamaCare. Money direct to States!

— Donald J. Trump (@realDonaldTrump) September 20, 2017

Previously Paul had called the bill from Senators Lindsey Graham and Bill Cassidy "ObamaCare lite" and said he wouldn't support it.  The Graham-Cassidy bill seeks to give more power to states by converting money currently spent on ObamaCare’s subsidies and Medicaid expansion into a block grant to states.

Paul wasted no time in responding to Trump's accusation, and just moments later responded that "#GrahamCassidy is amnesty for Obamacare. It keeps it, it does not repeal it. I will keep working with the President for real repeal."

#GrahamCassidy is amnesty for Obamacare. It keeps it, it does not repeal it. I will keep working with the President for real repeal.

— Senator Rand Paul (@RandPaul) September 20, 2017

According to the Hill, earlier this week, Paul expressed concern that the Republicans' latest attempt to repeal ObamaCare might pass.

“There's a big groundswell of people pushing for this,” Paul told Reporters on Monday. “Two weeks


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Zero Hedge

Prosecutors Unveil Full Details Of Anthony Weiner's Pedophilia

Courtesy of ZeroHedge. View original post here.

Earlier today we reported that as part of the government's sentencing memorandum (published at the bottom), federal prosecutors asked that disgraced former Congressman Anthony Weiner, and the man Hillary Clinton has quietly added to the nearly infinite list of reasons why she lost the presidential election, be sentenced to about two years in prison for engaging in sexting with an underage, 15-year-old girl. Prosecutors filed paper in Manhattan Federal Court on ...



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Digital Currencies

Can cryptocurrencies like Bitcoin survive scrutiny from central banks?

 

Can cryptocurrencies like Bitcoin survive scrutiny from central banks?

Courtesy of Nafis AlamUniversity of Reading

William Potter/Shutterstock

The future of money looks very different in the world of cryptocurrencies. There is a growing consensus among businesses, investors and countries (Venezuela in particular) that these alternative forms of online money are going to dominate payments in the next decade. There may be agreem...



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ValueWalk

Tagging Fake Articles Is Failing To Combat Fake News

By Rupert Hargreaves. Originally published at ValueWalk.

So-called “fake news” and not in form of The Onion (which is obvious satire) has been around in one form or another for hundreds of years. The world’s first daily newspapers, which were printed in London’s Fleet Street in the early 1700s, were full of stories and hearsay designed to influence readers and drum up sales. However, the readership of these papers was relatively limited compared to the size of the audience available to online publications today.

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Insider Scoop

Wall Street Weighs In On Adobe's Mixed Earnings Report

Courtesy of Benzinga.

Related ADBE 15 Biggest Mid-Day Losers For Wednesday 5 Biggest Price Target Changes For Wednesday ...

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Chart School

Minor Changes: Yesterday's and Weekend Comments Remain Valid

Courtesy of Declan.

I don't want to overplay today's action as little changed in the broader scheme of things. Days like today are welcomed and help shape up swing trades for those trading in near term timeframes.

The tight doji in the S&P could be used for a swing trade; buy a break of the high/short loss of low - stop on flip side. High whipsaw risk but look for 3:1 risk:reward and maybe trail stops if deciding to go with partial profits.


Tech averages are still set up for a breakout. While not an ...

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Members' Corner

"Citron Exposes Ubiquiti Networks" But TNN Says "Not So Fast"

What do you think? (There's a comment section below )

"CITRON EXPOSES UBIQUITI NETWORKS" 

Does Ubiquiti Networks (NASDAQ:UBNT) actually have real products that sell to consumers? Of course! So did Valeant and WorldCom, but that does not stop its financials from having every indication of being completely fraudulent.

Citron will detail a series of alarming red flags and detail how Ubiquiti Networks is deceiving the investing public.

Read the full report here.

******

Rebutal by The Nattering Naybob, ...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Biotech

Can low doses of chemicals affect your health? A new report weighs the evidence

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

Can low doses of chemicals affect your health? A new report weighs the evidence

Courtesy of Rachel ShafferUniversity of Washington

Assessing the data. LightField Studios/shutterstock.com

Toxicology’s founding father, Paracelsus, is famous for proclaiming that “...



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Mapping The Market

The App Economy Will Be Worth $6 Trillion in Five Years

Courtesy of Jean-Luc

This would be excellent news for AAPL and GOOG to a lesser extent although not inconsequential:

The App Economy Will Be Worth $6 Trillion in Five Years 

In five years, the app economy will be worth $6.3 trillion, up from $1.3 trillion last year, according to a report released today by app measurement company App Annie. What explains the growth? More people are spending more time and -- crucially -- more money in apps. While on average people aren't downloading many more apps, App Annie expects global app usership to nearly double to 6.3 billion people in the next five years while the time spent in apps will more than double. And, it expects the...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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